Marriott Approves New Fairfield Inn & Suites in Phoenix
- Mar 29, 2017
Phoenix—Virtua Partners has announced that Marriott International approved plans for the development of a Fairfield Inn & Suites hotel in Tolleson, Ariz. The project is set to rise on the southeast nexus of 91st Avenue and McDowell Road. Quyp Hospitality LLC, an affiliate of Virtua, will develop the new lodging facility, which calls for 120 guestrooms.
“Market conditions in the West Valley are excellent and we expect growth to continue over the next few years. In addition, the City of Tolleson has been incredibly supportive of commercial development, which is one of the reasons we were attracted to this site,” Quinn Palomino, principal of Virtua Partners and Quyp Hospitality, said in a prepared statement.
The project site along I-10 freeway will also include retail and multifamily uses. Atlanta-based Hotel Equities has been awarded the management assignment for the upcoming hotel. Virtua Capital Management teamed up with Versant Commercial Brokerage to raise debt and equity for the project. “This location is excellent due to its proximity to the freeway, surrounding sporting attractions, ease of accessibility, availability of utilities, and support from the local municipality,” Derek Uldricks, president of Virtua Capital Management, said in prepared remarks.
Rendering courtesy of Virtua Partners