A firm planning a hotel at the edge of Cherry Creek bought the site in early March, just as the coronavirus pandemic began to decimate the hospitality industry.
Public records show that 370 S. Garfield St. — a 0.34-acre site where a bakery once operated — sold on March 9 to Cherry Creek Hotel Group LLC and Cherry Creek Hospitality Group II LLC.
Both purchasing entities list an office address that corresponds to that of Mesa, Arizona-based Sunridge Hotel Group, which last year submitted development plans to the city calling for a 12-story AC Hotels by Marriott property with 150 rooms at the site.
The sale price was $3.87 million, which works out to $258 a square foot for the 15,000-square-foot lot.
Sunridge did not respond to a request for comment.
The one-story retail building on the property has yet to be demolished. It dates to 1980, and was once home to bakery Andre’s Confiserie Suisse, which operated in Cherry Creek from 1967 through 2015.
The coronavirus pandemic has delayed some planned hotel projects in Denver.
Central Street Capital told BusinessDen in May that it will not break ground this year on Hotel Perenne at 2500 18th St., as had been planned.
Additionally, at the start of this year, representatives for developers planning a 28-story Marriott by the Colorado Convention Center, a dual-brand hotel at 1320 Glenarm St. and the hotel portion of RiNo’s World Trade Center Denver project told BusinessDen they expected to break ground in the second quarter. But none did so.