By Corina Vanek for Phoenix Business Journal
A developer of high-end extended stay hotels bought 4.5 acres of land in north Phoenix to develop the company’s first Arizona hotel property.
WaterWalk purchased the site at 19th Avenue and Pinnacle Peak Road for $2.14M from the Alter Group. Trask Switzenberg and Chuck Wells of Kidder Mathews represented WaterWalk.
“The continued rapid expansion in the Deer Valley submarket, coupled with the site lying in an opportunity zone, led to our client’s confidence in moving forward with the transaction, even amidst the current economic climate,” said Switzenberg.
The site also includes a 0.75-acre retail pad that Switzenberg and Wells will also market.
Read more at Phoenix Business Journal.