Vintage Phoenix Midrise Office Building Slated for Hotel Rooms
The building is nearly a 100 years old, but that isn’t stopping Phoenix developers CivicGroup and Sunflower Development from converting the onetime office tower into hotel rooms. Built in 1928, the Security Building will undergo a $135 million renovation that will include 255…
The building is nearly a 100 years old, but that isn’t stopping Phoenix developers CivicGroup and Sunflower Development from converting the onetime office tower into hotel rooms. Built in 1928, the Security Building will undergo a $135 million renovation that will include 255…
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Why it matters
The conversion of a vintage office building into hotel rooms is a notable local real estate development but represents routine commercial real estate activity with limited broader market impact or novelty for credit-market professionals.
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Vintage Phoenix Midrise Office Building Slated for Hotel Rooms
The building is nearly a 100 years old, but that isn’t stopping Phoenix developers CivicGroup and Sunflower Development from converting the onetime office tower into hotel rooms. Built in 1928, the Security Building will undergo a $135 million renovation that will include 255…