Wednesday, May 14, 2025
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Arizona

Goodyear Civic Square
ArizonaCompany newsLeasingNews

Red Development, Globe Corp. Welcomes Three New Tenants to Goodyear Civic Square

by Abby Cox

Goodyear, Ariz. — A partnership between Red Development and Globe Corp. has signed three new tenants to Goodyear Civic Square (GSQ), its 150-acre mixed-use development located in the Phoenix suburb of Goodyear. Trader Joe’s will open a 13,500-square-foot store — the first in Goodyear — while Black Rock Coffee Bar will open a 1,460-square-foot drive-thru coffee shop. Additionally, Firebirds Wood Fired Grill will open a 5,658-square-foot standalone building that also houses a 700-square-foot outdoor patio. All new tenants are scheduled to open in 2026. The first phase of GSQ features …

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The Switchyard
ArizonaDevelopmentMixed-useNewsRestaurantsRetailers

Creation, Horizon Break Ground on $120 Million Mixed-Use Project in Queen Creek, Arizona

by Abby Cox

Queen Creek, Ariz. — Creation, in partnership with Horizon Real Estate Ltd., has broken ground on The Switchyard, a $120 million mixed-use project in Queen Creek, about 40 miles southeast of Phoenix. The 10-acre project will feature 54,000 square feet of restaurant, retail and office space, as well as a 215-unit apartment community. The development’s restaurant lineup will feature Postino, a restaurant and wine café; Snooze, an A.M. Eatery, a breakfast and brunch restaurant founded in Denver; and Shake Shack, a modern burger chain. Creation states that lease negotiations are …

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Superstition Gateway Shopping Center
ArizonaInvestment salesNewsPower centers

Desert Troon Sells Superstition Gateway Shopping Center in Mesa, Arizona for $121 Million 

by Abby Cox

Mesa, Ariz. — Desert Troon Cos. has sold Superstition Gateway Shopping Center, a 495,000-square-foot retail power center located in Mesa, for $121 million. Situated on 65.7 acres at the southwest corner of U.S. Highway 60 and Signal Butte Road, the center was constructed in 2006 and 2012 and comprises 19 individual parcels. Current tenants at the property — which was 90 percent leased at the time of sale — include Super Walmart, Kohl’s, AMC Theatres, LA Fitness, Total Wine & More, Ross Dress For Less, Marshalls, Five Below, PetSmart, Panera Bread, …

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The Gilmore
ArizonaDevelopmentLeasingMixed-useNewsRestaurantsRetailers

Thompson Thrift Breaks Ground on $225 Million Mixed-Use Development in Gilbert, Arizona

by Abby Cox

Gilbert, Ariz. — Thompson Thrift has broken ground on The Gilmore, a $225 million mixed-use development located in the Phoenix suburb of Gilbert. The 35-acre project will comprise approximately 200,000 square feet of grocery, restaurant and retail space, 300 luxury apartment homes and a hotel. The development will feature a main street-style entrance with covered walkways, common areas, murals by local artists and landscaped outdoor gathering spaces. More than 25 retail leases have already been signed including Better Buzz Coffee; Handel’s Ice Cream; Jersey Mike’s; Sweathouz; Rebel Wine Lounge; Square …

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Shops at the Cardinal
ArizonaDevelopmentLeasingNewsRestaurants

Diversified Partners Breaks Ground on 25,000-Square-Foot Shopping Center in Glendale, Arizona

by Abby Cox

Glendale, Ariz. — Diversified Partners has broken ground on Shops at the Cardinal, a 25,000-square-foot shopping center located in Glendale, approximately nine miles northwest of Phoenix. Situated near State Farm Stadium, the $20 million project will span nine acres and feature a mix of retail and restaurant concepts, as well as multiple drive-thru options and outdoor seating. Confirmed tenants at the property — which is nearing full lease-up — include Swig; Señor Taco; Nautical Bowls; Starbucks Coffee; Bonchon; Pacific Dental Services; La Botana; Jeremiah’s Italian Ice; a Mexican sushi concept; a nail …

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The Promenade Scottsdale
ArizonaLeasingNewsPower centers

Vestar Signs Leases with 10 New Tenants at The Promenade Scottsdale

by Abby Cox

Scottsdale, Ariz. — Vestar has signed leases with 10 new tenants at The Promenade Scottsdale, a 1-million-square-foot retail center located in the Phoenix suburb of Scottsdale. Retail and restaurant concepts including Fan Outfitters, J. Crew, Pvolve and Kura Sushi are now open at the center. IKEA, Sugar Sugar, The Wallpaper Co., DXL and Pella Windows are also scheduled to open at the center before the end of the year. Additionally, existing tenant Cox has expanded its space at the property to occupy an additional 3,852 square feet. Vestar manages the …

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Mercy Center
ArizonaDevelopmentLeasingNews

Diversified Partners Opens 11-Acre Mixed-Used Development in Gilbert, Arizona

by Abby Cox

Gilbert, Ariz. — Scottsdale, Arizona-based Diversified Partners has opened Mercy Center, an 11-acre mixed-used development in Gilbert, approximately 22 miles southeast of Phoenix. A mix of retail and office tenants — Galleria Nails; Prizm Dental; Honoré Skin Clinic; Beem Light Sauna; Brickhouse Dental; and Willow Midwife — have already opened. Kolache Café and The Cabinet Design Studio are under construction and will soon join the tenant roster. Additionally, Arizona’s largest Starbucks Coffee is open at Mercy Center, which features a two-story design, a 23-car drive-thru, designated mobile order parking, an …

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Morrison Ranch
ArizonaCompany newsDevelopmentGrocery-anchoredNews

Barclay Group Develops Seven New Grocery-Anchored Shopping Centers

by Abby Cox

Phoenix — Barclay Group has developed a total of seven Kroger-anchored shopping centers in Arizona and Colorado, with six of the seven shopping centers located in the greater Phoenix area. The most recent deliveries featured two openings in January 2025, including Flying Horse in Colorado Springs, Colorado, and Morrison Ranch in Gilbert, Arizona. The final two openings — Heritage West in Buckeye, Arizona, and Sycamore Farms in Surprise, Arizona — are scheduled for completion this year. Barclay Group’s expansion into the Phoenix market within the past 15 months is part …

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Sterling Grove Shopping Center
ArizonaFinanceGrocery-anchoredNews

JLL Arranges $16.5M Financing for Shopping Center in Surprise, Arizona

by Abby Cox

Surprise, Ariz. — JLL has arranged $16.5 million in senior financing for Sterling Grove Shopping Center, a 106,000-square-foot grocer-anchored retail property located in Surprise, roughly 30 miles northwest of Phoenix. Developed in 2023, the center is situated on 19 acres and features a 63,290-square-foot Safeway as the anchor tenant, as well as 22,500 square feet of connected retail space spanning five buildings. Additional tenants at the property — which was fully leased at the time of sale — include a Safeway Fuel station, McDonald’s, Starbucks Coffee and Taco Bell.   …

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Rancho Encanto
ArizonaGrocery-anchoredInvestment salesNews

Kidder Mathews Facilitates $10.6 Million Sale, Secures Management of Retail Center in Phoenix

by Abby Cox

Phoenix — Kidder Mathews has facilitated the $10.6 million sale of Rancho Encanto, a retail center located in Phoenix. Darren Tappen, Nathan Thinnes, Pete Beauchamp, and Patrick Gardner of Kidder Mathews represented both the seller, Dayanim Real Estate Corporation, and the buyer, Junam Enterprises, Inc., in the transaction. Kidder will manage the 70,439-square-foot property — which is anchored by Smart & Final and Aaron’s — on behalf of Junam Enterprises.

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