Tucson, Ariz. — Prairie Hill Holdings has acquired Rillito Crossing Marketplace, a shopping center located in Tucson, for $27.5 million. A 96,424-square-foot Sprouts Farmers Market anchors the property. LA Fitness is also a tenant at the center, which includes an empty parcel that allows for up to 25,000 square feet of additional development and another undeveloped parcel situated at the entrance of the property.
Yuma, Ariz. — Sprouts Farmers Market will open a 23,228-square-foot store in Yuma, marking the second location in the city for the Phoenix-based grocer. In addition to the Yuma Foothills Sprouts store, the property will feature an additional 11,250 square feet of attached, inline retail space. The Spencer Cos. is the landlord and project developer. Regan Amato of JLL’s Phoenix office represented Sprouts in the lease negotiations, and Thomas J. Pancrazi of A.T. Pancrazi Real Estate Services represented The Spencer Cos. A construction timeline was not disclosed.
Mesa, Ariz. — Diversified Partners has broken ground on Eastgate Plaza, a 17-acre mixed-use project in Mesa. Tenants at the development will include Starbucks Coffee, d’Lite, Pure Barre, Fix FX, Fresh Monkee, Playa Bowls, Kolache Café, Farmer Boys, Ono Hawaiian BBQ, Vero Chicago Pizza, Swig, Euphoria Nail Salon, Mecham Orthodontics, MB2 Dental, Andi’s Hair Salon & Barbershop AVEDA, Discount Tire and The UPS Store. Eastgate Plaza will also feature a 91,911-square-foot Cambria Hotel, scheduled to open on Sept. 1, 2025. Elliot & Ellsworth Investment Properties owns the site. An entity led …
Mesa, Ariz. — An entity doing business as Mesa South Center LP has received $8 million in financing for the acquisition of Mesa South Shopping Center, a 133,663-square-foot retail center located in Mesa. The borrower purchased the property for $15 million. Tenants at the center, which was 85.3 percent leased at the time of sale, include Big 5 Sporting Goods, Harbor Freight Tools and Dollar Tree. The property was originally built in the 1980s but has undergone renovation, including recent capital investments to the parking lot. Shaun Moothart, Bruce Francis, Bob …
Yuma, Ariz. — Disney Investment Group (DIG) has brokered the sale of Yuma Palms Regional Center, a 398,602-square-foot retail center located in Yuma. The property was leased to 49 tenants at the time of sale. Retailers at the property include Ross Dress for Less, Marshalls, PetSmart, Michaels, Five Below, Old Navy, Ulta Beauty and Harkins Theatre at the time of sale. David Disney and Adam Crockett of DIG represented the undisclosed seller and procured the buyer, Bridge33, in the transaction.
Austin, Texas — Cushman & Wakefield has arranged $100 million in refinancing for a portfolio of grocery-anchored retail centers on behalf of the borrower, Austin-based Epic Real Estate Partners. Totaling 625,000 square feet, the portfolio includes Eagan Towne Center in Eagan, Minnesota; Ventana Village in Tucson, Arizona; Preston Trail Village in Dallas; Kauai Village in Kapa’a, Hawaii; and Cobbler Crossing in Elgin, Illinois. The properties, which were 93.2 percent leased at the time of sale, are anchored by Cub Foods, Kroger, Bashas, Safeway and Jewel Osco. Beth Lambert, Chase Johnson, Caleb …
Surprise, Ariz. — A joint venture between GTIS Partners and Clyde Capital has released plans for Asante Trails, a $250 million mixed-use project in Surprise, a suburb of Phoenix. The development will feature a build-to-rent community, retail space and a medical facility, all of which will be built across 90 acres of land. In conjunction with the land acquisition, GTIS and Clyde sold 20 acres within the project site to HonorHealth, one of Arizona’s largest hospital systems, to develop the medical facility. Additionally, 45 acres will be allocated to a joint …
Mesa, Ariz. — Black Rock Coffee Bar will open a 2,000-square-foot store in Mesa. Founded in 2008, the brand currently operates in 125 locations throughout the U.S. Scheduled to open Jan. 26, the new shop will offer smoothies, teas and energy drinks, in addition to coffee.
Tucson, Ariz. — JLL Capital Markets has brokered the $27.5 million sale of Rillito Crossing, a 96,424-square-foot retail center located in Tucson. Prairie Hill Holdings acquired the center from Epic Real Estate Partners and Centerbridge. Developed in 2008, the property was 96 percent leased at the time of sale. Sprouts Farmers Market, which recently completed a $1.2 million interior remodel, anchors the center. Other tenants include Sola Salons, LA Fitness, Adrian’s Barbershop, Smoothie Factor, JK Nails, The Joint Chiropractic, The Tea Hub, Dao’s Tai Pan’s and Rita’s Italian Ice Custard. Two …
Gilbert, Ariz. — Phoenix Commercial Advisors has negotiated the $19.5 million sale of Chandler Heights Village, a shopping center located in Gilbert, roughly 22 miles outside Phoenix. Totaling 50,763 square feet, Chandler Heights Village was fully leased at the time of sale. Tenants at the center include Papa John’s, Leslie’s, Edward Jones, Jersey Mike’s Subs and Phoenix Children’s Academy. Danny Gardiner and Chad Tiedeman of Phoenix Commercial Advisors represented the undisclosed seller in the deal.