Artisan hotel offered to ‘cannabis-friendly’ operator for $11.9M

The operator of a “cannabis-friendly” lodge in Phoenix has obtained a boutique home close to…

The operator of a “cannabis-friendly” lodge in Phoenix has obtained a boutique home close to the Strip.

Professional Hospitality Team owner Alex Rizk bought the 64-room Artisan resort at Sahara Avenue and Interstate 15 for $11.9 million.

The sale, by The Siegel Team founder Stephen Siegel, shut this month, home documents exhibit.

Rizk not long ago informed the Evaluate-Journal that he is scheduling a just about $3 million renovation of the Artisan, 1501 W. Sahara Ave. He hopes to begin the overhaul in the upcoming 60 times and complete by September.

He also said he hopes to make the lodge “cannabis friendly,” pending finalization of legal guidelines and polices in Nevada.

“This is a way of life, boutique hotel,” Rizk mentioned.

The Overview-Journal documented in January that Clark County officials were intently checking the state’s attempts to control cannabis usage lounges.

When they open up this 12 months in Nevada, right after acceptance in the point out Legislature last summer, lounges would offer locals and tourists with sites to consume marijuana. But the state’s Hashish Compliance Board will have to to start with finalize rules, which regional jurisdictions can then bolster if they want.

Pro Hospitality Team is primarily based in Phoenix, and its portfolio includes a resort referred to as The Clarendon. The hotel’s website says it features “cannabis-pleasant rooms and amenities” that let “vaping, dabbing, flower, and so forth.” as very well as a hashish lounge that is available for lodge friends and the basic public.

“Since we are at the moment a break up-use lodge with cannabis and non-cigarette smoking rooms, we do ask that any smoking choose place in your hashish-friendly room and not in the general public spots of the lodge,” the web site claims. “Vapes and smokeless items can be made use of in out of doors community regions, not together with the restaurant.”

The lodge also is “working on a hashish shuttle support to choose hotel friends from the resort to a local dispensary and back once more,” the website says.

The Siegel Team, which declared in early 2010 that it acquired the Artisan by the foreclosures method, reported in a news release on the sale that the Artisan offers a “hip, personal ambiance.” It had a bar and lounge “with a popular soon after-hrs scene,” as perfectly as a cafe, marriage chapel, and “one of the number of topless pools in town,” the release said.

Real estate brokerage NAI Vegas, which represented The Siegel Team in the sale, stated in a release that the 5-story, nongaming lodge was created in 1979 and transformed to the Artisan brand in 2006.

Make contact with Eli Segall at [email protected] or 702-383-0342. Follow @eli_segall on Twitter.