Phoenix office tower sold for $10.3m, set to become 100-room Marriott hotel
The iconic Ellis Building, erected in 1922, is set to undergo a transformation into a chic boutique hotel, managed by Aperture Hotels and affiliated with Marriott's Tribute Portfolio. This revitalization aims to breathe new life into the historic space, following previous redevelopment failures. The project promises about 95 to 105 stylish guest rooms, complemented by a modern restaurant and bar,…
The Ellis Building, a historic six-story office tower in downtown Phoenix, has been sold for $10.3 million and is set to be transformed into a boutique hotel under Marriott's Tribute Portfolio brand. The building, constructed in 1922, originally served as an office space before being acquired by Equus Development Corp. in 2019. Despite previous attempts to repurpose the property for modern commercial use, limited demand for office space and an unfinished residential conversion complicated those efforts.
The hotel plans, approved in May 2026, include 95 to 105 guest rooms, a restaurant, and a bar on the ground floor. The Tribute Portfolio designation allows the historic building to retain some of its character while operating within Marriott's broader hospitality network. This development follows a similar project to convert the Security Building and Annex Building into a 255-room hotel, highlighting the trend of repurposing older commercial buildings for hospitality use in downtown Phoenix.
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