Real Estate & Construction  January 11, 2023

Cherry Creek hotel development site sells for $6M

This story first appeared on BusinessDen.com, a BizWest news partner.

A vacant site in Cherry Creek where a hotel has been proposed has changed hands.

370 Garfield Development LLC paid $6 million on Monday for the 0.33-acre 370 S. Garfield St. property, according to public records.

The purchasing entity lists an address that corresponds to the local office of Maryland-based Baywood Hotels.

The seller was an entity affiliated with Arizona-based Sunridge Hotel Group, which bought the site in March 2020 for $3.87 million. The company submitted development plans for a 12-story, 150-room AC Hotel by Marriott. 

Baywood, Sunridge and Marriott didn’t respond to separate requests for comment on Tuesday.

Baywood already owns hotels in the region, including several near Denver International Airport. The company has developed or plans to develop AC Hotels in other markets, according to its website and local media coverage.

The Cherry Creek property was previously home to a one-story retail building, which was demolished within the past year. That structure was once home to bakery Andre’s Confiserie Suisse, which operated in Cherry Creek from 1967 through 2015.

This story first appeared on BusinessDen.com, a BizWest news partner.

A vacant site in Cherry Creek where a hotel has been proposed has changed hands.

370 Garfield Development LLC paid $6 million on Monday for the 0.33-acre 370 S. Garfield St. property, according to public records.

The purchasing entity lists an address that corresponds to the local office of Maryland-based Baywood Hotels.

The seller was an entity affiliated with Arizona-based Sunridge Hotel Group, which bought the site in March 2020 for $3.87 million. The company submitted development plans for a 12-story, 150-room AC Hotel by Marriott. 

Baywood, Sunridge and Marriott didn’t respond to separate requests for comment…

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