PHOENIX, Arizona— JLL’s Motels & Hospitality group introduced the sale of the Sheraton Phoenix Downtown, a 1,003-room conference heart resort, marking one of many largest resort gross sales in Arizona’s historical past. JLL represented the vendor within the transaction.
The 33-story Sheraton Phoenix Downtown stands as town’s largest resort, with 112,000 sq. toes of versatile assembly and occasion house, together with the 27,200-square-foot Phoenix Ballroom and the 14,000-square-foot Valley of the Solar Ballroom. The property provides 26 whole assembly rooms, with the biggest house accommodating as much as 2,510 friends and 20 breakout rooms obtainable for concurrent classes.
Inbuilt 2008 and enhanced by means of a $45 million renovation accomplished in 2020, the resort provides trendy facilities all through its 806,481-square-foot tower. All guestrooms, positioned on flooring 5 by means of 33, supply views of downtown Phoenix and the encircling mountain ranges. The property consists of eight totally different room sorts, from conventional king and double rooms to its 1,625-square-foot Governor’s Suites.
The resort’s meals and beverage program consists of three ideas: Carcara, the signature restaurant, which was lately renovated, providing Arizona-inspired delicacies with Sonoran influences; &Extra by Sheraton, a venue serving as a espresso store, grab-and-go market, and night bar; and Breeze Bar & Grill, positioned on the fourth-floor poolside terrace and providing panoramic downtown views. Extra facilities embrace a 4,300-square-foot health heart, an out of doors pool, the Sheraton Membership Lounge, and enterprise providers.
Positioned two blocks from the Phoenix Conference Heart, the resort advantages from its proximity to main demand mills, together with the Footprint Heart, Chase Discipline, and Phoenix Symphony Corridor. The property borders Arizona State College’s Downtown Phoenix Campus and the increasing Phoenix Bioscience Core, whereas serving as the popular headquarters resort for the Phoenix Conference Heart.
The JLL Motels & Hospitality group was led by Senior Director Matt Riley.
“The Sheraton Phoenix Downtown represents the uncommon mixture of institutional high quality, strategic location, and important scale that pulls best-in-class capital,” mentioned Riley. “Phoenix has established itself as one of the vital dynamic lodging markets in the US, with downtown benefiting from various demand drivers together with increasing conference enterprise, company relocations, and the rising affect of Arizona State College’s downtown campus. This transaction validates the energy of the market fundamentals and the enchantment of irreplaceable city property.”
