Italian restaurant, Sassi, has announced that it will close next year.
In a statement, the restaurant confirmed a development group placed an offer on the property and a sale is "pending," as first reported by the Phoenix Business Journal.
As a result, the restaurant, which opened in 2004, will close in June 2018.
Until then, "the restaurant and bar will operate as usual, and all currently confirmed weddings and other events will be held as planned," the release said. Reservations for fall and spring events can still be made.
The restaurant's owners plan to retire when the venue closes and have no plans to reopen it, a spokesperson said. Details on who plans to purchase the land or what they plan to do with it were unable to be released, a spokesperson said.
Sassi is located in North Phoenix near Pinnacle Peak Parkway and Alma School Road.