Jericho, N.Y. — New York-based Kimco Realty has signed 19 new leases at its shopping center properties in Arizona. Scheduled to open this month and in April, Burlington and Five Below will occupy 30,000 and 10,787 square feet, respectively, at Christown Spectrum in Phoenix. PetWellClinic and Milano Nails Salon have also signed leases totaling 6,432 square feet at Madison Village Marketplace in Phoenix. Cookie Plug and Parlor Doughnuts will open 900-square-foot and 2,100-square-foot shops in Phoenix as well, at Plaza at Mountainside, a Safeway-anchored property. Skechers is scheduled to open within …
Chandler, Ariz. — Kidder Mathews has brokered the $12.5 million sale of Sun Village Fair, a retail center located in Chandler, roughly 20 miles outside Phoenix. Sun Village Fair comprises 189,022 square feet of existing retail space, as well as roughly six acres available for pad development. Additionally, the site features a Walmart, First Bank and Wendy’s, which were not included in the sale. Darren Tappen, Nathan Thinnes, Pete Beauchamp, Trask Switzenberg and Matthew Ault of Kidder Mathews represented the seller, LNR Partners, in coordination with Trevor Koskovich of Northmarq and …
Phoenix — JLL Capital Markets has secured a $5.3 million loan for the refinancing of Camelback East Shops, a 25,129-square-foot retail center located in Phoenix. Tenants at the property include Tarbell’s, First Watch and Van’s Golf Shops. Will Haass and Eric Tupler of JLL arranged the fixed-rate financing on behalf of the borrower, MDC Realty Advisors, through a life insurance company.
ArizonaCaliforniaCompany newsFloridaGeorgiaIllinoisIndianaNebraskaNew JerseyNew YorkNewsNorth CarolinaOhioTexasWashington
Nordstrom to Open 26 New Nordstrom Rack Stores
Seattle — Seattle-based retailer Nordstrom has announced plan to open 26 new Nordstrom Rack stores. Openings are scheduled to begin this spring and continue through spring 2025. The sites of the new stores include locations in Arizona, California, Florida, Georgia, Illinois, Indiana, Nebraska, New Jersey, New York, North Carolina, Ohio and Texas.
Chandler, Ariz. — Peak Development Partners and Hungry Investments have acquired a 5.5-acre parcel of land in Chandler, roughly 20 miles outside Phoenix. The joint venture acquired the property from NGAI Family Trust for an undisclosed price, with plans to develop multiple retail pads at the site. Construction is scheduled to begin in the fourth quarter of this year, with the opening planned for the first quarter of 2025. Brian Gast of Velocity Retail Group will manage leasing at the property. Phil Bramsen of SanTan Commercial Advisors represented Peak Development Partners …
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.