TUCSON, ARIZONA – The Super 8 Motel at 1990 South Craycroft Road in Tucson sold for $1.775 million ($44,375 per room). Built in 1970, the 13,771-square-foot, 2-story building with 40 rooms sits on a 27,528-square-foot lot located near Davis-Monthan Air Force Base.
The new owner, TAZ Hospitality, LLC (Shyamal Patel, manager) is an experienced hospitality investor from Tustin, California and acquired the property as part of a 1031 exchange. The new owner plans to add value by completing a large renovation and converting the property to a Motel 6.
Jigar "Jay" Desai of NewGen Advisory in Phoenix represented both the buyer and the seller, Shri Ji Incorporation (Dinesh Patel, CEO) in the transaction and was able to secure financing and staffing for the new buyer during post-covid.
For more information, Desai can be reached at 602.648.2700.
To learn more, see RED Comp #9082.