A 127-room Hyatt Place hotel in Gilbert (Phoenix), Arizona sold and was represented by Cushman & Wakefield announced the firm announced. Located at 3275 S Market St, the six-story property sold to HWC Hospitality for nearly $19.5 million.
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. “Hyatt Place is a high-quality property and makes an excellent addition to the buyer’s Phoenix East Valley hotel portfolio.”
Hyatt Place is strategically located along Freeway 202 near Pecos Rd 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 amenities unparalleled in the valley.