Hospitality Archives

Apartment community offers concierge service

Infill development

Apartment communities have been making great strides with awesome amenities to attract the modern resident, and the Residences at Fountainhead is no different with the launch of its personal concierge service that hopes to be your personal assistant. The Pinnacle Concierge Service can do it all, from order tonight’s dinner to ordering those awesome drapes you… Read More →

First Tempe Town Lake hotel opening soon

by in AZRE Magazine | Hospitality

AC Hotels by Marriott, Marriott International’s European-inspired lifestyle brand, will open AC Hotel Phoenix Tempe/Downtown next month, which will be the brand’s first hotel in the western United States. AC Hotel Phoenix Tempe/Downtown will add style and sophistication to the vibrant city of Tempe and will be the first hotel to be located on Tempe Town Lake, a popular… Read More →

Kingman hotel sells for $7.1M

Kingman hotel
by in AZRE Magazine | Hospitality

Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Best Western Plus Kings Inn & Suites, a 100-room hotel property located in Kingman, Arizona. The asset sold for $7,100,000, according to Todd Manning, sales manager of the firm’s Las… Read More →

Valley Partnership takes a look at hospitality industry


Valley Partnership‘s annual monthly breakfast on April 29th will cover two major hospitality projects under construction in Paradise Valley – a new Ritz-Carlton and redevelopment of the iconic Mountain Shadows resort. The panel will feature Christopher Klecka, CFO of Five Star Development (Ritz-Carlton); Scott Lyon, founder and managing partner of Westroc Hospitality (Mountain Shadows); and Jeff… Read More →

Welcome to Boutique Hotels 2.0

Loews Ventana Canyon

If you Google “boutique hotel,” you’ll get, “a small stylish hotel, typically one situated in a fashionable urban location.” If you get in a car and drive around Metro Phoenix, you’ll find small stylish hotels in urban locations. Don’t let Google fool you, though:the face of boutique accommodations is changing. Chains and large properties are… Read More →

Chandler Comfort Inn sold for $7.7 million feverpitched
by in AZRE Magazine | Hospitality

The Chandler Comfort Inn sold to a California-based hotel group for $7.7 million, and Tower Capital arranged a $5,600,000 acquisition loan for the purchase. The 129-room Comfort Inn is located near Chandler Boulevard and 56th Street. The 4-story limited service hotel was originally built in 1997 and renovated in 2012. The $5.6 million dollar loan… Read More →

$2 billion Ritz-Carlton community approved to build

FINAL Ritz PV - Pool Rendering_email size
by in AZRE Magazine | Construction | Hospitality

Paradise Valley Town Council approved a $2 billion Ritz-Carlton community to be built that will include a Ritz-Carlton hotel, town homes and retail. The project will include a 352,000 square-foot 200-room Ritz-Carlton hotel, along with 94 single-level villas ranging from 1,700 to 3,000 square-feet and 45 single-family homes ranging from 3,000 to 6,000 square-feet. Located… Read More →

Scottsdale’s Caliber reels in 2 Alaskan hotels

Salmon Falls
by in AZRE Magazine | Hospitality

Caliber The Wealth Development Company announced that it has successfully closed on two premium Alaskan hospitality properties for a combined purchase price of $11 Million. Properties were acquired with partners Heavlin Management Company and Leslie Hospitality Consulting. Located in Ketchikan, known as the “Salmon Capital of the World,” the Salmon Falls Resort and Edgewater Inn… Read More →

The FOUND:RE Hotel set to open in downtown Phoenix

101015 Foundre Render F02 Reduced

The concept’s identity is no longer a secret. The former Lexington Hotel located on the northwest corner of West Portland Street and North Central Avenue, is being transformed into the FOUND:RE Phoenix, a one-of-a-kind lifestyle hotel experience with details, designs, public spaces and amenities inspired by contemporary art, culture, fashion and music. The 104-room hotel,… Read More →

Renowned BBGM joins forces with MONOGRAM gajus

BBGM, an internationally distinguished architecture and interior design firm based in Washington D.C., announced a merger with West Coast luxury hospitality interior design firm MONOGRAM. With the joining of these two industry leaders, BBGM further positions itself at the forefront of international high-end design, while maintaining their signature client-focused approach. Since 1987, BBGM has made… Read More →

NAIOP members’ office and industrial projects

SkySong, The ASU Scottsdale Innovation Center — SkySong 4

Project profile criteria per NAIOP: Property must be owned or have non-refundable earnest money in escrow by 8/1/15. Property must have a color site plan and color rendering completed. Property must have proper zoning in place. Property must be bigger than 100,000 square feet Amkor Headquarters  Developer: Ryan Companies US, Inc. General Contractor: Ryan Companies… Read More →

Hotel Tucson City Center Inn Suites sells for $9.65M

Hotel Tucson City Center Inn Suites

Marcus & Millichap has sold Hotel Tucson City Center Inn Suites, a 267-room hospitality property located in Tucson, AZ, according to Don Morrow, regional manager of the firm’s Phoenix office. The asset sold for $9,650,000. James I. Meng and Jon R. Grantham, hospitality investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing to market… Read More →

Tower Capital closes two transactions in Scottsdale and Tucson


Once again showing its diversity across different markets and asset classes, Phoenix based structured finance firm, Tower Capital, recently arranged $12,209,000 in acquisition financing in two separate transactions. The first was on behalf of Caliber Companies, a full service real estate investment company headquartered in Scottsdale, Arizona. Caliber owns and operates a diverse real estate… Read More →

The Standard is Old Town Scottsdale’s newest resident

The Standard Exterior Rendering

Experience innovative luxury living at Scottsdale’s newest apartment community, The Standard. Located in the heart of downtown Scottsdale’s thriving cultural and social hub, comes a host of unique apartment homes, drawing inspiration from mid-century modern style. Adjacent to the Hotel Valley Ho, an iconic 1950s landmark, The Standard blends design elements from the era with… Read More →