Marriott property sold for undisclosed sum, Cushman & Wakefield officials say
Staff Reports | Digital Free Press
Cushman & Wakefield brokered the undisclosed sale of a 120-key Residence Inn by Marriott hotel in north Scottsdale.
Found at 17011 N. Scottsdale Road, the property was built in 2002 but renovated in 2018. The buyer was Austin-based Summit Hotel Properties, which acquired the property for an undisclosed price, those close to the matter say.
Bill Murney with Cushman & Wakefield’s hospitality team in Phoenix represented the seller in the transaction.
“This is a strong, modern branded hotel asset very well located in the heart of North Scottsdale’s premier dining, shopping, and business district,” said Executive Managing Director Bill Murney.
“The Residence Inn by Marriott property adds to the buyer’s North Scottsdale hospitality portfolio, which also includes a Courtyard by Marriott hotel and SpringHill Suites by Marriott hotel that are both located across the street. The buyer will complex operations of the properties with Aimbridge managing all three assets.”
Residence Inn by Marriott features an outdoor pool, 24-hour fitness center, and on-site parking. It is also close to many amenities including popular restaurants, outdoor recreation such as golf and parks and other attractions.
The property is also near major healthcare facilities and is close proximity to Loop 101.
