Hotel Indigo Sells for $17.6 Million in Bank Sale

Area Map

The Hotel Indigo in Old Town Scottsdale sold Monday to Triyar Companies for $17.6 million or $140,000 per room. Resource Capital Corporation funded the sale with a $14.3 million note. The property was sold in a bank sale from AEW Capital, who had acquired the property via deed-in-lieu in 2011.

Totaling 126 rooms in one five-story building, the Indigo Hotel was built 1995 and renovated in 2007. It is located east of the Scottsdale and Camelback Road intersection, and is currently closed for business.

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Seven-Story Shoeman Office Tower Coming Soon Near Scottsdale and Camelback

Scottsdale & Camelback Intersection (see site highlighted in red)

On Tuesday Triyar Companies and Oaktree Capital Management paid $6 million for a 0.85 acre-parcel planned for a new office building. The “Shoeman Office Tower” will stand seven stories and total 207,000 square feet. The site is currently occupied by a ±18,276 SF office & retail building. Disregarding the improvements, the sales price reflects a $162 per unimproved square foot. The property is located just under 500 feet south of Scottsdale and Camelback Road's southeast corner in Old Town Scottsdale.

For more details including planning and zoning for the Shoeman Office Tower, buyer/seller contacts, and complete history visit us at www.vizzda.com or email us at info@vizzda.com.