- For Sale $115,000,000
- Property Type Other
- Lot Size 0.85 SF
- Additional Rent Contact for pricing
- Year Built 2021
- Date Updated Dec 21, 2024
The Snyder Carlton National Net Lease Team is pleased to offer to qualified investors an opportunity to purchase The Westin Tempe, an absolute NNN leased hospitality asset located in Phoenix, AZ (MSA Population: 4.7 Million). The Westin, Marriott International’s premier luxury wellness brand, focuses on “wellbeing programming and revitalizing amenities that ensure you leave feeling better than when you arrived.” The 290 key 4-star hotel was completed in 2021, is strategically positioned in the heart of both Tempe and Arizona State University and provides luxurious accommodations to travelers and visitors.
The Absolute NNN lease has a primary term of 25 years, four 5-year option periods, 2% annual rent increases, and is backed by a strong Multi-Unit Franchisee. The 290,838 SF 17-story building on 0.85-acre parcel is positioned on E 7th Street and features great access from S Mill Ave and E University drive which have a combined traffic count exceeding 54,500 VPD.
Arizona State University is directly adjacent to the subject property with enrollment exceeding 112,100 students, a vibrant student culture, strong academics and athletics, and has been ranked the #1 university in innovation for eight years in a row. Phoenix Sky Harbor International Airport (PHX) is only 10 minutes away and sees over 44 million passengers annually. With over 20+ airlines and nonstop service to 140+ destinations both domestic and international, Sky Harbor is considered by many “America’s Friendliest Airport.” The Valley Metro Rail has a station just ¼ mile away, connecting Tempe with the rest of Phoenix. Other nearby attractions include Sun Devil Football Stadium, Desert Financial Arena, Sloan Park (Chicago Cubs Spring Training Facility, ASU Gammage Performing Arts Center, Tempe Town Lake, US Airways Headquarters, and more.
This is an excellent opportunity to acquire a trophy absolute NNN hospitality asset in a dominant location, with a long-term lease, annual increases, and a strong tenant, ensuring years of inflation resistant cash flows.
Available
Reach out to the broker for more info on lease terms and amenities
Attachments
False
Contacts
Location
Getting Around
-
Walk Score ®
92/100
Walker's Paradise
-
Transit Score ®
70/100
Excellent Transit
-
Bike Score ®
99/100
Biker's Paradise
- City Tempe, AZ
- Neighborhood Hughes Acres
- Zip Code 85281
- Market Phoenix
Points of Interest
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9th St / Mill Ave
0.14 miles
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6th St / Mill Ave
0.14 miles
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University Dr / Ash Ave
0.19 miles
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5th St / Ash Ave
0.28 miles
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Veterans Way/ College Ave
0.29 miles
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Mill Ave/ 3rd St
0.33 miles
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11th St / Mill Ave
0.33 miles
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3rd St / Mill Ave
0.35 miles
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3rd St / Ash Ave
0.37 miles
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Tempe Beach Park / Rio Salado Pkwy
0.47 miles
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Chevron
0.78 miles
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chargepoint
0.91 miles
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Wallbox
0.94 miles
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ChargePoint
0.98 miles
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Watermark Visitor Parking
1.04 miles
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Tesla Destination Charger
1.19 miles
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Circle K
1.23 miles
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QuikTrip
1.43 miles
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Shell
1.72 miles
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Blink
2.10 miles
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CVS Parking Lot
0.14 miles
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City Hall Visitor's Parking
0.15 miles
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Centerpoint
0.16 miles
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10th St. Parking Structure
0.21 miles
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University Towers Parking Structure
0.21 miles
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Fulton Center Parking Structure
0.28 miles
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Stadium Parking Structure
0.38 miles
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Lot 3
0.43 miles
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Hayden Ferry Lakeside Parking Garage
0.54 miles
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The Westin Tempe
0.01 miles
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Canopy
0.10 miles
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Omni Tempe Hotel at ASU
0.11 miles
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Residence Inn Tempe Downtown
0.18 miles
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University Inn
0.20 miles
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Sonesta Select Tempe Downtown
0.25 miles
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Tempe Mission Palms
0.26 miles
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Vib
0.32 miles
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Hyatt House Tempe / Phoenix / University
0.54 miles
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Hyatt Place Tempe / Phoenix / University
0.56 miles
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Terra Tempe Kitchen & Spirits
0.02 miles
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Jack in the Box
0.03 miles
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Steak 'n Shake
0.03 miles
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Taco Boy's
0.04 miles
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La Bocca Urban Pizzeria + Wine Bar
0.05 miles
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Bonchon Chicken
0.05 miles
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Mellow Mushroom
0.06 miles
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H.O.T. House Of Tcaos
0.06 miles
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Pita Jungle
0.06 miles
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Ike's Love and Sandwiches
0.07 miles
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Student Pavilion
0.43 miles
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Arizona State University
0.63 miles
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Barrett, the Honors College at ASU
0.86 miles
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Tempe High School
0.90 miles
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Scales Technology Academy
0.91 miles
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Geneva Epps Mosley Middle School
0.99 miles
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Bryan University
1.07 miles
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The New School for the Arts and Academics
1.28 miles
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Broadmor Elementary School
1.29 miles
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Tempe Academy for International Studies--McKemy Campus
1.36 miles
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My Lightfoot Angel's Respite Center
1.38 miles
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Little Rascals Learning Center
2.14 miles
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Mill Avenue Preschool
2.64 miles
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Valley Child Care & Learning Center
2.73 miles
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Sunrise Preschool Tempe
2.96 miles
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Bright Ideas Childcare & Learning Center
2.98 miles
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Calvary Christian Preschool & Daycare
3.49 miles
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Best Friends Preschool
4.21 miles
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Sounds Montessori Childcare
4.58 miles
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Kiddie Kampus
4.62 miles
Frequently Asked Questions
The space currently listed for sale at The Westin by Marriott | Trophy Downtown Tempe Location asks for $115,000,000.
The Westin by Marriott | Trophy Downtown Tempe Location totals 290,383 square feet.
The Westin by Marriott | Trophy Downtown Tempe Location was built in 2021.
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