For Sale $115,000,000
Property Type Other
Lot Size 0.85 SF
Additional Rent Contact for pricing
Year Built 2021
Date Updated Nov 3, 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

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Attachments

Westin_11 E 7th St._Tempe, AZ (OM) (PDF) opens in new window

Contacts

Eric Carlton

Paul Holland

Location

Getting Around

Walk Score ®
92/100 Walker's Paradise
Transit Score ®
70/100 Excellent Transit
Bike Score ®
99/100 Biker's Paradise

Map
Street

City Tempe, AZ
Neighborhood Hughes Acres
Zip Code 85281
Market Phoenix

Points of Interest

9th St / Mill Ave

0.14 miles
6th St / Mill Ave

0.14 miles
University Dr / Ash Ave

0.19 miles
5th St / Ash Ave

0.28 miles
Veterans Way/ College Ave

0.29 miles
Mill Ave/ 3rd St

0.33 miles
11th St / Mill Ave

0.33 miles
3rd St / Mill Ave

0.35 miles
3rd St / Ash Ave

0.37 miles
Tempe Beach Park / Rio Salado Pkwy

0.47 miles

Chevron

0.78 miles
chargepoint

0.91 miles
Wallbox

0.94 miles
ChargePoint

0.98 miles
Watermark Visitor Parking

1.04 miles
Tesla Destination Charger

1.19 miles
Circle K

1.23 miles
QuikTrip

1.43 miles
Shell

1.72 miles
Blink

2.10 miles

CVS Parking Lot

0.14 miles
City Hall Visitor's Parking

0.15 miles
Centerpoint

0.16 miles
10th St. Parking Structure

0.21 miles
University Towers Parking Structure

0.21 miles
Fulton Center Parking Structure

0.28 miles
Stadium Parking Structure

0.38 miles
Lot 3

0.43 miles
Hayden Ferry Lakeside Parking Garage

0.54 miles

The Westin Tempe

0.01 miles
Canopy

0.10 miles
Omni Tempe Hotel at ASU

0.11 miles
Residence Inn Tempe Downtown

0.18 miles
University Inn

0.20 miles
Sonesta Select Tempe Downtown

0.25 miles
Tempe Mission Palms

0.26 miles
Vib

0.32 miles
Hyatt House Tempe / Phoenix / University

0.54 miles
Hyatt Place Tempe / Phoenix / University

0.56 miles

Terra Tempe Kitchen & Spirits

0.02 miles
Jack in the Box

0.03 miles
Steak 'n Shake

0.03 miles
Taco Boy's

0.04 miles
La Bocca Urban Pizzeria + Wine Bar

0.05 miles
Bonchon Chicken

0.05 miles
Mellow Mushroom

0.06 miles
H.O.T. House Of Tcaos

0.06 miles
Pita Jungle

0.06 miles
Ike's Love and Sandwiches

0.07 miles

Student Pavilion

0.43 miles
Arizona State University

0.63 miles
Barrett, the Honors College at ASU

0.86 miles
Tempe High School

0.90 miles
Scales Technology Academy

0.91 miles
Geneva Epps Mosley Middle School

0.99 miles
Bryan University

1.07 miles
The New School for the Arts and Academics

1.28 miles
Broadmor Elementary School

1.29 miles
Tempe Academy for International Studies--McKemy Campus

1.36 miles

My Lightfoot Angel's Respite Center

1.38 miles
Little Rascals Learning Center

2.14 miles
Mill Avenue Preschool

2.64 miles
Valley Child Care & Learning Center

2.73 miles
Sunrise Preschool Tempe

2.96 miles
Bright Ideas Childcare & Learning Center

2.98 miles
Calvary Christian Preschool & Daycare

3.49 miles
Best Friends Preschool

4.21 miles
Sounds Montessori Childcare

4.58 miles
Kiddie Kampus

4.62 miles

Frequently Asked Questions

How much does The Westin by Marriott | Trophy Downtown Tempe Location cost?

The space currently listed for sale at The Westin by Marriott | Trophy Downtown Tempe Location asks for $115,000,000.

What is the total square footage of The Westin by Marriott | Trophy Downtown Tempe Location?

The Westin by Marriott | Trophy Downtown Tempe Location totals 290,383 square feet.

When was this property built?

The Westin by Marriott | Trophy Downtown Tempe Location was built in 2021.

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