Marriott Hotels Corp., the Washington, DC-based hospitality company that operates more than 2,100 hotels and resorts worldwide, is selling 4.2 acres at the northeast corner of 16th Street and Camelback Road, at the very western edge of the popular Camelback Corridor. Marriott purchased and cleared the 8 1/2-acre corner site last year, razing a Revco drug store and McDonald's restaurant. The parcel has an approved site plan, with C-2 zoning, that calls for two hotels and 28,000 sf of retail space. It has a height limit of four stories, as does the rest of Camelback except at major intersections.

Marriott plans to use half of the tract to develop a 192-room Residence Inn, says Art Cunningham, head of Scottsdale-based Cunningham Real Estate, the listing broker on the parcel. "It's a much bigger site than they needed," he tells GlobeSt.com. "They were always planning to sell off the residual."

Marriott will be building on the eastern edge of the acreage, which abuts Squaw Peak Parkway. A shared-space parking garage will be built in the northeast corner.