Marcus & Millichap, a commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, sold the 149-room Courtyard Airport Tucson hotel property in Tucson, Ariz. Other terms and conditions were not disclosed.
“This transaction highlights the continued investor demand for well-positioned hospitality assets in strong airport submarkets like Tucson,” Ebrahim Valliani, senior vice president investments, said in a statement. “The property’s recent renovations and proximity to Tucson International Airport made it a particularly attractive opportunity for both the buyer and seller.”
Valliani, senior vice president, and Michael Klar, senior associate, both investment specialists in Marcus & Millichap’s Chicago Oak Brook office, exclusively marketed the property on behalf of the seller and secured the buyer. Both entities are limited liability companies. The transaction received additional support from Allan Miller and Chris Gomes of the Miller-Gomes Hotel Team. Ryan Sarbinoff is the firm’s broker of record in Arizona.
The three-story Courtyard Airport Tucson is located on 3.99 acres, off Interstate 10 and less than a mile from Tucson International Airport. Built in 1988 and renovated in 2021, the hotel has amenities such as an outdoor pool, fitness center, business center, on-site bistro and meeting space.