CBRE has been retained as the exclusive adviser for the sale of Castle Hot Springs, located at the base of the Bradshaw Mountains, seven miles northwest of Lake Pleasant Regional Park in Peoria.
The 210-acre property, which includes the historic resort and year-round natural hot springs, is listed on the National Register of Historic Places.
Dave Headstream, Jason Hyams and Mike Ratliff of CBRE’s Land Services Group in Phoenix are handling the sales responsibilities on behalf of property owner, Ektornet US, Inc., a New York City-based Swedish real estate company.
“This represents a unique opportunity to own an irreplaceable asset and a piece of Arizona history,” Headstream says. “Its location makes Castle Hot Springs an ideal choice for a destination resort, corporate retreat, organizational team-building facility or private residence, not to mention the tremendous value-added potential in the surrounding acreage.”
Opened in 1896, Castle Hot Springs was considered one of the premier resorts in the U.S., attracting prominent families, such as the Vanderbilts, Astors and Wrigleys. During World War II the property was converted into a rest and recuperation (R&R) facility, leased by the U.S. War Department, where, reportedly, Lt. Cmdr. John F. Kennedy spent time recuperating from combat injuries. In the early years, Castle Hot Springs was the first territorial winter capital of Arizona and was the first property in the state to receive a telephone number, which was “1.”
Today, just a few structures remain, including the administrative building, which is situated among a lush lawn containing 550, 100-year old palm trees and adjacent to a 125,000-gallon naturally-heated swimming pool. Other structures include a barn and stable, a large maintenance shed and a guest house. The property also has electric service and a self-contained water supply.