Mortenson Announces Opening, $44 Million Sale of the New Hampton Inn & Suites in Downtown Phoenix

Phoenix, Ariz. – The new 11-story, 210-key Hampton Inn & Suites by Hilton is now open in downtown Phoenix, Mortenson announced today.

Mortenson also announced it has sold the new property located at North 1st Street and East Polk Street to Apple Hospitality REIT. The hotel will be managed by North Central Group, a leading hotel management company.

The new Hampton Inn & Suites Downtown Phoenix is adjacent to the Arizona State University Downtown Campus and is within walking distance of the Phoenix Convention Center. Asset highlights:

  • First Hampton Inn & Suites in downtown Phoenix;
  • 210 keys;
  • Groundbreaking date spring 2017; completion date spring 2018;
  • 11 stories, 115 feet tall, 123,900 SF;
  • Amenities include a bar and lounge, business center, meeting space, fitness center and breakfast area; local art will be featured throughout the public areas and guestrooms;
  • Developer and general contractor: Mortenson;
  • Architect: PK Architects;
  • Interior Designer: Design Force;
  • Engineer: PK Associates, Peterson Associates Consulting Inc., Dibble Engineering.

The hospitality market in Phoenix continues to strengthen with the growing demand in the area. The hotel is Mortenson’s first development project in downtown Phoenix, as well as Hilton’s first Hampton Inn & Suites downtown.

“The new Hampton Inn & Suites Downtown Phoenix is an important part of the continued renaissance within the city’s urban core,” said Nate Gundrum, Vice President of Real Estate Development at Mortenson. “Located in the heart of downtown, the new hotel will cater to a segment of traveler looking for an affordable, yet upscale experience proximate to a variety of entertainment and cultural attractions.”

The hotel has a character that is uniquely Arizonan. The interior design highlights local artwork, as well as a lounge and gathering area inviting business and leisure travelers alike to enjoy the downtown atmosphere. It also features a business center, meeting space, fitness center and area for complimentary breakfast.

“This project is a great addition to our growing portfolio of work in the Valley and across the state,” said George Forristall, Director of Real Estate Development at Mortenson. “We have enjoyed the collaboration with the entire project team in helping this Hampton Inn & Suites reflect the unique downtown Phoenix vibe.”

Mortenson is a leading national hospitality and real estate developer. The company’s current and recent hospitality development projects include two AC Hotels by Marriott in Minneapolis and Portland, Ore.; a Home2 Suites by Hilton in Chicago; a JW Marriott and a Radisson Blu at Mall of America, Bloomington, Minn.; a Hyatt Centric in Portland, Ore.; the Hyatt Regency at the Oregon Convention Center in Portland; expansion of the Hotel Commonwealth, Boston; and the Marriott HARBORCENTER, Buffalo, N.Y.

 

About Mortenson

Founded in 1954, Mortenson is a U.S.-based, family-owned construction and real estate development company. As one of the nation’s top developers and builders, Mortenson provides a complete range of development and construction services, including site acquisition, financing, planning, program management, preconstruction, general contracting, construction management, design-build and turnkey delivery.  Mortenson has operations across North America with offices in Chicago, Denver, Fargo, Iowa City, Milwaukee, Minneapolis, Phoenix, Portland, San Antonio, Seattle, Washington, D.C., and in Canada. For more information, visit mortenson.com.

 

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