Overview
The Ellis Building, located at 2nd Avenue and Monroe in the heart of Downtown Phoenix, presents a compelling opportunity for an upscale hotel conversion. Situated within a Qualified Opportunity Zone, the asset offers meaningful tax advantages while benefiting from irreplaceable proximity to the Phoenix Convention Center—where the city has identified a need for 800–1,200 additional hotel rooms to support future convention demand.
Immediate access to the Mortgage Matchup Center (Phoenix Suns), Chase Field (Arizona Diamondbacks), and ASU’s Downtown Campus drives year-round demand from events, sports, and academic travel. The building’s historic architecture is well suited for adaptive-reuse lifestyle brands such as Tribute Portfolio by Marriott, Tempo, Tapestry, Curio by Hilton or voco by IHG, positioning the property for a high-value hospitality use aligned with Downtown Phoenix’s accelerating growth.
Investment Highlights
- Adaptive-reuse hotel conversion of a former office/mixed-use asset in Downtown Phoenix
- Accelerated time-to-market and cash flow versus ground-up development
- Early interest from leading hospitality brands: Marriott, Hilton, IHG
- Building benefits from two powerful incentives: Historic Tax Credits and Opportunity Zone program
- Blocks away from the Convention Center, Mortgage Matchup Center, Chase Field, and ASU Downtown
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Sales Team
