REAL ESTATE

Phoenix hotel on Central Avenue sells for $18M

Utah-based LLC buys up 107-room property

Fairfield Inn & Suites by Marriott on Central Avenue in Phoenix sold for $18 million.

(Photo provided by CoStar)

A Fairfield Inn & Suites by Marriott on Central Avenue in Phoenix is under new ownership.

The 107-room property, located at 2520 N Central Ave, was bought by Salt Lake City, Utah-based Moonstar Hospitality LLC for $18 million.

Bill Murney with Cushman & Wakefield’s Hospitality team in Phoenix represented the seller, MIG Real Estate.

You must be a member to read this story.

Join our family of readers starting at $5 for your first month and support local, unbiased journalism.

Already have an account? Log in to continue.

Otherwise, follow the link below to join.

I am anchor

REAL ESTATE

Phoenix hotel on Central Avenue sells for $18M

Utah-based LLC buys up 107-room property

(Photo provided by CoStar)

Fairfield Inn & Suites by Marriott on Central Avenue in Phoenix sold for $18 million.

Posted Thursday, September 28, 2023 2:59 pm

Special to Independent Newsmedia

A Fairfield Inn & Suites by Marriott on Central Avenue in Phoenix is under new ownership.

The 107-room property, located at 2520 N Central Ave, was bought by Salt Lake City, Utah-based Moonstar Hospitality LLC for $18 million.

Bill Murney with Cushman & Wakefield’s Hospitality team in Phoenix represented the seller, MIG Real Estate.

“The buyer now owns a great hotel property that continued to improve its year-over-year performance during the escrow, showing the strength of the Fairfield Inn & Suites and Phoenix midtown market,” Murney stated in a press release.

In December 2022, Cushman & Wakefield announced that Murney had also advised the sale of a 99-room Hampton Inn hotel asset in midtown a half-mile from the Fairfield Inn & Suites.