January 20, 2010, Phoenix – Colliers International–Greater Phoenix has negotiated the sale of 2.8 acres of land at the northeast corner of the I-10 freeway and Bullard Avenue in Goodyear, Ariz., to Drury Development Corporation for approximately $2.32 million.
Tom Woods and Brian Woods of Colliers International and Larry Ortega and Daniel Ortega of Re-Union Partners represented the seller, SunCor Development Company of Tempe, Ariz. Norm Herd of Empire Commercial represented the buyer, Drury Development Corporation of St. Louis, Mo.
Located within SunCor’s Centerscape at Palm Valley, Drury plans to build an eight-story Drury Inn & Suites hotel on the site. A groundbreaking date has not been set. This will be Drury’s third Arizona location, with one hotel in Flagstaff and one in northwest Phoenix at I-17 and Pinnacle Peak Road.
“Drury approached SunCor about Centerscape after their market analysis determined that our location at the I-10 interchange and at the gateway to Westcor’s Estrella Falls Regional Mall had strategic importance to their plans,” said Jim Tomlin, Director of Community Commercial & Town Centers for SunCor. “Drury recognized this to be a significant commercial corridor in the West Valley.” Tomlin adds, “From the outset, Drury’s plans for a more intensive, urban-oriented hotel, as opposed to a low-rise, limited service product, fit with our vision for Centerscape. Drury will provide a distinctive hotel project that will be different than anything else that currently exists in the West Valley.”
According to Tomlin, SunCor’s decision to partner with the family-owned Drury Hotels was also based on Drury’s sterling reputation in the hospitality industry. J.D. Power and Associates has recognized Drury with the award for “Highest in Guest Satisfaction Among Mid-Scale Hotel Chains with Limited Service,” for 2006 through 2009.
Centerscape at Palm Valley is a mixed-use commercial development, set on more than 50 acres at the I-10 and Bullard Avenue interchange in Goodyear, Ariz. The project is planned for approximately 450,000 square feet of retail, restaurant, hotel and office. P.F. Chang’s China Bistro and Red Robin restaurants are now open in Centerscape.
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