Infill Developer Optimistic Buyers Will Still Close on Hotel Monroe

Source:  Business Journals

The Phoenix infill developer who is part of the group trying to buy the long-vacant Hotel Monroe building in downtown Phoenix is optimistic the deal will still go through after a delayed closing. “It’s all good to go. We are anxious to get this thing rolling,” said Ed Gorman, chief executive of Modus Development. Modus and a group of San Diego buyers formed a group called Grasshopper One LLC in July and hoped to close on the 13-story historic building at the end of ...

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