Groundbreaking for the hotel project is scheduled for Q1 2008,with completion eyed for early 2009. Alter Group's senior vicepresident Kent Moe says the new hotel will provide a great amenityfor the business park at Pinnacle Peak Road and Interstate 17.
"Physically, this will be the first hotel to arrive in the area,but there are others in planning phases," he says. "This has beenan underserved area for some time." Drury Inns Inc. will manage thehotel.
The Chicago-headquartered Alter Group began work onCorridors-Phoenix Business Park in 2000. Its first spec project wasleased by the Chubb Group of Insurance Cos. of Warren, NJ for itsregional headquarters. When build-out is complete, the park willhave 1.2 million sf of spec and build-to-suit office space, withthree acres set aside for a retail development.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
