Cushman & Wakefield announced the firm has brokered the portfolio hotel sale comprising a 180-room Sheraton and 129-room Courtyard by Marriott hotels in Mesa, Arizona. HSL Properties acquired the hospitality properties for a combined $50.25 million. The portfolio also includes 15,000 square feet (sf) of retail spaces, a commercial laundry facility, a full spa, 18,000 sf meeting spaces, including an 11,000-sf ballroom.
The seller, Power Hotel Group, was represented by Bill Murney and Mike Montoya with Cushman & Wakefield’s Western Hospitality Advisory Group in Phoenix.
“These assets are well located at the confluence of the 101/202 freeways minutes from Sky Harbor airport. The Sheraton hotel will undergo a multi-million-dollar renovation while The Courtyard opened in the fall of 2020 and continues to be a top performing asset in the market,” said Executive Managing Director Bill Murney.
“The hotels benefit from their exceptional location adjacent to Sloan Park at the Mesa/Tempe border, the nearby amenity offerings, and their association with Marriott,” added Mike Montoya, Director.
The hotels are well located with immediate access to both Loop 101 & Loop 202 with convenient access to nearby demand drivers. They are also adjacent to Sloan Park, Spring Training home of the Chicago Cubs and 10 minutes from Phoenix Sky Harbor International Airport. The hotels also provide quick access to ASU, Tempe Town Lake, Tempe Marketplace, Banner Desert Medical Center, and Old Town Scottsdale.
