San Tan Valley, Ariz. — Diversified Partners has announced plans to develop a 3.84-acre retail center at the southeast corner of Bella Vista and Gantzel roads in San Tan Valley, roughly 46 miles east of Phoenix. The planned development will include multiple retail pads, with up to 1.9 acres available for sale or ground lease. A Terrible’s convenience store and gas station will anchor the project. Further details of the development have not been disclosed.
Queen Creek, Ariz. — Creation, in partnership with Horizon Real Estate, has signed leases with four new tenants at The Switchyard, a 10-acre mixed-use development located at the northeast corner of Ellsworth and Ocotillo roads in the Phoenix suburb of Queen Creek. Bamboo Sushi, ROOM and PORCH, Zara Nail Bar and Edward Jones will all occupy space within the same building. Previously confirmed tenants included Snooze, an A.M. Eatery, Shake Shack and Postino Wine Café, all of which are expected to open by the end of the year. Upon completion …
Glendale, Ariz. — Diversified Partners has signed EOS Fitness to anchor a new 24.5-acre commercial retail development in Glendale, roughly nine miles northwest of downtown Phoenix. The developer acquired the site for $5.9 million in 2022, as reported by the Phoenix Business Journal. Along with EOS Fitness, additional confirmed tenants at the new shopping center, which is currently 77 percent preleased, include Dutch Bros Coffee, HTeaO, Farmer Boys and Bojangles. An approximately 2,057-square-foot endcap shop space remains available for lease, along with additional drive-thru and retail opportunities. The development is designed …
Queen Creek, Ariz. — Vestar, a privately held shopping center developer and manager based in Phoenix, has announced the completion of Vineyard Towne Center, a 260,000-square-foot retail development located in Queen Creek, approximately 45 miles southeast of Phoenix. Following the 2021 groundbreaking, the $100 million development is now fully leased. “This center has seen incredible leasing momentum, and the strong response from both tenants and residents underscores the demand for high-quality destinations that blend convenience, variety and an elevated sense of place,” says Jeffrey Axtell, executive vice president of development at …
Glendale, Ariz. — Cushman & Wakefield has arranged the $3.2 million sale of a single-tenant retail property located in Glendale, roughly nine miles northwest of downtown Phoenix. Dollar Tree occupies the 12,064-square-foot property, which was built in 2002 under a net lease structure. Chris Hollenbeck and Shane Carter of Cushman & Wakefield represented the seller, WM Grace Cos., in the transaction. The buyer was Teakwood Norman LLC.
Goodyear, Ariz. — Hanley Investment Real Estate Advisors has arranged the $23 million sale of Mountain Ranch Marketplace, a 49,683-square-foot shopping center located in Goodyear, approximately 19 miles west of Phoenix. Originally built in 2009 on 12.4 acres, Mountain Ranch Marketplace was 94.6 percent occupied at the time of sale to tenants such as AutoZone, Starbucks, Papa John’s Pizza, Subway, Leslie’s Pool Supplies, Verizon, Edward Jones, North Star Animal Hospital, Oasis Bagels, T&T Martial Arts Academy and Great Clips. Tenants not included in the sale are Safeway, McDonald’s, Taco Bell, …
Glendale, Ariz. — New York City-based Time Equities Inc. (TEI) has acquired Cactus Plaza, a 25,620-square-foot neighborhood shopping center in Glendale, roughly nine miles northwest of downtown Phoenix near the Arizona State University West Valley campus. Built in 1985, the center was 93 percent leased to a mix of restaurant, beauty and service-oriented tenants at the time of sale. Cactus Plaza marks the second retail property that TEI has acquired in the state. Ami Ziff, Jonathan Kim and Grant Scott internally represented TEI in the transaction. Chase Dorsett of Newmark represented …
Elmsford and New York City, N.Y. — DLC, in partnership with a fund managed by DRA Advisors, has acquired a multi-state shopping center portfolio in an off-market transaction for $429 million. Totaling 2.1 million square feet, the portfolio comprises eight shopping centers across five states. The seller was not disclosed. The properties include Central Texas Marketplace in Waco, Texas; Portofino Shopping Center in the Houston suburb of Shenandoah; Watauga Pavilion in the Dallas suburb of Watauga; Shops at Park Place in Plano, Texas; Pavilion at King’s Grant in the northeast Charlotte …
Surprise, Ariz. — Diversified Partners has unveiled plans to develop a new 120,000-square-foot retail development within the master-planned community of Prasada in Surprise, roughly 30 miles northwest of Phoenix. The project will feature 16 acres of pad sites, shop space, auto and storage opportunities, as well as ground lease and build-to-suit options. Current confirmed tenants include a convenience store with an attached gas station, national drive-thru restaurant brands and a veterinary clinic, with additional tenants in negotiations across dining, wellness, automotive and lifestyle categories. Delaney McGroarty of Diversified will handle …
Chandler, Ariz. — Phoenix Commercial Advisors has arranged the sale of Chandler Sunset Plaza, a 107,320-square-foot entertainment- and fitness-anchored shopping center located in Chandler, roughly 20 miles southeast of Phoenix. The property sold for $25.9 million, or $242 per square foot. Spanning 13 acres, the center was 95 percent leased to a mix of national and local tenants, including Pickleball Kingdom, Jack in the Box, First Watch and Own Your Dream Sports Academy. John Schweikert and Chad Tiedeman of Phoenix Commercial Advisors represented the undisclosed seller in the deal.
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