### Tucson Airport Hotel Sold for $14.2 Million
The Courtyard by Marriott Tucson Airport Hotel, located at 2505 E. Executive Drive in Tucson, was sold at auction for $14.2 million, equating to $95,268 per room. The 149-room hotel had a reported occupancy rate of 75% at the time of the sale.
Marcus & Millichap’s Ebrahim Valliani and Michael Klar represented the seller, Skyline Investments of Toronto, Ontario, Canada, in collaboration with RI Marketplace.
Conveniently positioned with direct access to I-10 and less than a mile from Tucson International Airport, the hotel caters to both business and leisure travelers. Originally built in 1988, the property underwent renovations in 2021, enhancing its appeal.
The three-story hotel features 149 rooms, including 12 suites with private balconies or patios. Amenities include a 24-hour fitness center, dry cleaning and laundry services, an elevator, a bar, a deli, a pool and spa, and multiple meeting rooms.
The sale was structured as a fee-simple transaction, unencumbered by existing debt.
About the Publisher:
Steve Griffin is based in sunny Palm Harbor, Florida. He’s an accountant by profession and the owner of GRIFFIN Tax (www.griffintax.com) and REVVED Up Accounting (www.revvedupaccounting.com). In addition, Steve founded Madison Avenue Technology (www.madisonave.tech). With a strong passion for commercial real estate, he’s also dedicated to keeping you up to date with the latest industry news.
