For Star subscribers: Investors plan to turn a portion of an existing motel, purchased for $6.15 million, into apartments, with plans for expansion.
Gabriela Rico New apartments are being considered at a former Motel 6 on Tucson's south side that sold for $6.15 million.
"What was attractive is the land and the amount of units," said Jigar"Jay" Desai, senior vice president with NewGen Advisory, who handled the sale along with colleagues Dan Rama, Ryan Bodine and Kishan Gohel. It sits on more than 5 acres, next to Interstate 10, with a large parking lot that could support future apartment buildings, Desai said.This is the second sale for NewGen of a hotel to be turned into apartments. The company also handled the sale of the Hotel Tucson City Center and has three other hotels under contract in the Tucson market.
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