DENVER—HREC Investment Advisors has arranged the sale of the 152-room Hyatt Place Phoenix Mesa located in Mesa, AZ, to an affiliate of Summit Hotel Properties Inc. Summit Hotel Properties is a publicly-traded real estate investment trust that primarily owns premium-branded, select-service hotels in the upscale segment of the U.S. lodging industry.
Bill Murney, SVP in HREC Investment Advisors’ Phoenix office, exclusively represented Mesa Hotels LLC during the transaction.
The Hyatt Place is one of only two purpose-built Hyatt Places in Arizona, according to the company.
Positioned in the Mesa Riverview Shopping Center near the Loop 101 and Loop 202 interchange, the hotel is proximate to the surrounding area’s primary demand generators. Adjacent to the hotel is a variety of shopping, dining and entertainment options, including Bass Pro Shops and the Cinemark movie theater. The Hyatt Place is within walking distance to the Chicago Cubs Spring Training Stadium and a few miles to the Oakland A’s Hohokam Stadium. The Hyatt Place is also 10 minutes from the Phoenix Sky Harbor Airport.