Virtua Partners Completes Sale of Phoenix Area Hotel Site

Virtua Partners Completes Sale of Phoenix Area Hotel Site

Press Releases, Resources
Virtua Partners announced today that it has completed the sale of a 2.32-acre hotel site located off the Southeast corner of McDowell Road and 91st Avenue in the City of Tolleson. An affiliated entity, Virtua West Valley Hotels, purchased the site for $1,010,592 or $10 per square foot. Virtua affiliate Quyp Hospitality plans to build a Fairfield Inn and Suites on the site. The 2.32-acre parcel is part of an approximately 21-acre mixed use site that Virtua purchased in May of 2016 for $2,550,000, or $2.83 per square foot. The project zoning and site plan were processed through the City of Tolleson and approved in February of this year. Sales activity on the project has been strong and two additional commercial lots are in escrow and expected to close in…
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