Marcus & Millichap sells Tucson, Ariz., hotel for $9.6M

Marcus & Millichap sold the Hotel Tucson City Center Inn Suites, a 267-room property in Tucson, Ariz. The asset sold for $9.6 million.

James I. Meng and Jon R. Grantham, hospitality investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, a real estate investment trust publicly traded on the New York Stock Exchange. The buyer, a private investor from Texas, was secured and represented by Lisa Estrada, a retail property investment specialist in Marcus & Millichap’s Fort Worth office.

Virtual Event

Hotel Optimization Part 3 | January 27, 2021

With 2020 behind us and widespread vaccine distribution on the horizon, the second half of the new year is looking up, but for Q1 (and most likely well into Q2) we’re very much still in the thick of what has undeniably been the lowest point of the pandemic. What can you be doing now to power through and set yourself up for a prosperous 2021 and beyond? Join us at Part 3 of Hotel Optimization – A Virtual Event on January 27 from 10am – 1:05pm ET for expert panels focused on getting you back to profitability.


Hotel Tucson City Center Inn Suites is a four-story hotel located at 475 North Granada Ave. in Tucson’s historic downtown Presidio Arts District. The property is situated on a 10-acre site adjacent to the I-10 freeway with excellent visibility from that high-traffic arterial. The property’s amenities include an Olympic-sized, heated pooll an in-house restaurant; a business center; sand volleyball courts; and a 16,000-square-foot ballroom and meeting space that is downtown Tucson’s largest.