The 1975-constructed hotel at 3210 N.W. Grand Ave. was in good shape, but the church board will be spending "some capital dollars" for the overhaul, says Jeff Cunningham, senior associate in Phoenix for CB Richard Ellis. "The seller marketed this two ways," he says. "He marketed it as a hotel. If someone didn't want to use it as a hotel, he was fine with that too. The seller was happy with what he got."
Cunningham tells GlobeSt.com that the building, which boasts a 7,000-sf conference room, was on the market six months and attracted several offers. First Assembly of God, represented by Carol Gallegos of Gallegos & Associates Inc. in Phoenix, stepped forward with the best offer.
Cunningham says McCallisster sold its only asset in the state so it can focus on real estate investments in Colorado. As for the buyer, he says "I think it'll work out well for the proposed use."
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