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HWC Hospitality buys Gilbert Hyatt Place for $19.5M, Cushman & Wakefield report

Photo of property recently sold by Cushman & Wakefield in the Town of Gilbert
A picturesque angle of the Hyatt Place in the Town of Gilbert that just changed hands — brokered by Cushman & Wakefield — for a cool $19.5 million. (File Photos/
Cushman & Wakefield: new roots for HWC Hospitality planted in Gilbert
Staff Reports | Digital Free Press

Cushman & Wakefield brokered the sale of a 127-room Hyatt Place hotel asset in the Town of Gilbert, officials there say.

Found at 3275 S. Market St., the six-story property sold to HWC Hospitality for nearly $19.5 million, according to a press release.

Bill Murney and Jesse Heydorff with Cushman & Wakefield’s hospitality team in Phoenix represented the seller, Sethi Management.

“This is a premium-branded hotel asset in a desirable East Valley Phoenix hospitality market,” said Executive Managing Director Bill Murney, in a prepared statement. “Hyatt Place is a high-quality property and makes an excellent addition to the buyer’s Phoenix East Valley hotel portfolio.”

Hyatt Place is found along Loop 202 near Pecos Road with convenient freeway access and high visibility. The proximity to many demand generators such as Rivulon and Dignity Health Mercy Hospital and near the SanTan Village which is the epicenter of the southeast Valley, provides demand and new amenities in the area.

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