Arizona

Vineyard-Towne-Center
ArizonaDevelopmentLeasingNews

Vestar Completes $100 Million Vineyard Towne Center Retail Development in Queen Creek, Arizona

by Abby Cox

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 northwest 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 …

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6773-W-Bell-Rd-Glendale-AZ
ArizonaInvestment salesNews

Cushman & Wakefield Arranges $3.2 Million Sale of Single-Tenant Retail Property in Metro Phoenix

by Abby Cox

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.

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mountain-ranch-marketplace
ArizonaInvestment salesNews

Hanley Arranges $23 Million Sale of Shopping Center in Metro Phoenix

by Abby Cox

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, …

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ArizonaInvestment salesNews

Time Equities Acquires Cactus Plaza in Metro Phoenix for $4.5 Million

by Abby Cox

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 …

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Portofino-Shopping-Center
ArizonaFloridaInvestment salesNewsNorth CarolinaOklahomaTexas

Partnership Acquires Multi-State Shopping Center Portfolio for $429 Million

by Abby Cox

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 …

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ArizonaDevelopmentNews

Diversified Partners to Develop 120,000-Square-Foot Retail Development in Surprise, Arizona

by Abby Cox

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 …

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Chandler-Sunset-Plaza
ArizonaInvestment salesNews

Phoenix Commercial Advisors Brokers $25.9 Million Sale of Chandler Sunset Plaza Shopping Center in Arizona

by Abby Cox

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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East Gate Plaza
ArizonaDevelopmentNews

Diversified Partners Developing $60 Million Retail Center in Mesa, Arizona

by Abby Cox

Mesa, Ariz. — Scottsdale, Arizona-based Diversified Partners is under construction with East Gate Plaza, a $60 million retail center located in Mesa. Spanning approximately 17 acres, the development will be situated north of the master-planned community of Eastmark and near the Mesa Tech Corridor. Confirmed tenants at the property are Starbucks Coffee, Einstein Bros. Bagels, Discount Tire, FitFX, WingSnob, Señor Taco, Farmer Boys, Zeitouna, Fresh Monkee, Port of Subs, Ono Hawaiian BBQ, Euphoria Nail Salon, Playa Bowls, Hand & Stone Spa, Kolache Café and Andi’s Hair Salon. Additional tenants include …

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Queen Creek Crossing
ArizonaDevelopmentGrocery-anchoredNews

Vestar Completes 400,000-Square-Foot Queen Creek Crossing in Metro Phoenix 

by Abby Cox

Queen Creek, Ariz. — Vestar has completed Queen Creek Crossing, a 400,000-square-foot retail development located in Queen Creek, approximately 40 miles southeast of Phoenix. Costco anchors the property, which is fully leased. Other tenants include Ashley Furniture, Hobby Lobby, BJ’s Restaurant and Brewhouse, Ono Hawaiian BBQ, Smoothie King, Sleep Number, Fleet Feet, Well Groomed Pets, Desert Financial Credit Union, Natural Pediatrix, Gallery Nails and Snip-Its. Additionally, The Habit Burger and Grill is scheduled to debut in December, while U.S. Bank is expected to open in late 2026. The 31-acre development originally …

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Southbridge Marketplace
ArizonaDevelopmentGrocery-anchoredNews

Thompson Thrift, Forest Creek Ventures Break Ground on Second Phase of Southbridge Marketplace in Maricopa, Arizona

by Abby Cox

Maricopa, Ariz. — A partnership between Thompson Thrift and Forest Creek Ventures has broken ground on the second phase of Southbridge Marketplace in Maricopa. The 56,000-square-foot expansion will comprise a 21,000-square-foot Aldi, which will anchor the property. In addition to Aldi, the second phase will include 20,000 square feet of attached retail, along with 15,700 square feet of retail across four outparcels. Signed tenants include a drive-thru Panera Bread, Tropical Smoothie Café, Einstein Bros. Bagels, Club Pilates, European Wax Center and She Nail Lounge. Available spaces for lease include four …

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