Parallel Capital Partners to Develop AC Hotel by Marriott at Mixed-Use Arizona Center

Arizona Center | November 15, 2017

PHOENIX (Nov. 15, 2017) San Diego-based Parallel Capital Partners – which acquired the Arizona Center in a joint venture in late 2015 – has announced plans to add a 200-room AC Hotel by Marriott to the Class A, mixed-use property, located at 3rd St. and Van Buren in downtown Phoenix. Las Vegas-based LaPour Partners is currently under contract for an undisclosed amount for the 49,190-square-foot parcel on 5th Street between Fillmore Street and Van Buren Street with construction of the hotel slated to begin in April 2018. "Downtown Phoenix is a true destination, and soon Arizona Center will be able to host out-of-town visitors...