Hotels

The city in releasing the RFP is hopeful that the sale of the 18 acres will result in the development of mixed-use, residential or office and or hospitality and retail development on the site.

The 2018 visitor total marked the eighth consecutive record year for tourism visitation in Florida, according to VISIT FLORIDA. Last year's visitation level surpassed the previous record of 118.8 million posted in 2017 by 6.2%.

Hotel occupancy in the Tempe market was up 250,000 rooms in 2018, while hotel room sales were up 12%.

The firm states that its MVP Fund will focus on middle market real estate-based investments including joint ventures, active or passive investments, urban infill development projects, income producing properties and substantial value-added renovations including historic properties.

The new terminal will combine landside and airside operations into a single facility.

Warren Thompson, a restauranteur and food and facilities management entrepreneur, brings oversight and finance experience to the nationwide industrial REIT.