Casa Grande, Ariz. — SRS Real Estate Partners has arranged the $7.7 million sale of the former Casa Grande Mall in Casa Grande, roughly 50 miles outside Phoenix. Totaling 221,328 square feet, the property was formerly anchored by Kmart, Big Lots and a movie theater. Brian Polachek of SRS represented the buyer, Hinkson Co. LLC, in the transaction. Hinkson Co. plans to redevelop the property.
Queen Creek, Ariz. — Nordstrom Rack will open a 28,025-square-foot store at Queen Creek Marketplace, a retail center located in Queen Creek, approximately 40 miles southeast of Phoenix. Other tenants at the property, which totals 900,000 square feet, include Target, Kohls, Harkins Theatres, Trader Joe’s, Sephora, Handel’s Ice Cream, Reformed Pilates, Nothing Bundt Cakes and Little Flippers Swim School. Vestar is the developer, landlord and manager of Queen Creek Martketplace.
Queen Creek, Ariz. — Vestar has announced plans to break ground this month on Phase 2 of construction at Vineyard Towne Center in Queen Creek, roughly 40 miles outside Phoenix. Upon completion, Vineyard Towne Center will comprise 260,000 square feet. Tenants at Phase 2, which is fully leased and scheduled to open in fall 2025, include Target, McDonald’s, Verizon, Petco, Mattress Firm, My Dr. Now, Better Buzz Coffee, Zaxby’s, Ono Hawaiian BBQ and Mountain America Credit Union. Phase 1 of the project includes tenants Keep it Cut Hair Salon, Crown One …
Peoria, Ariz. —Western Retail Advisors has brokered the $11.1 million sale of 83 Marketplace, a newly built retail center located in Peoria, a suburb northwest of Phoenix. A franchisee of Hawaii-based Seven Brothers Burgers acquired the property. Developed by Scottsdale-based Cavan Cos., the center totals 19,800 square feet across three buildings. The buyer plans to open a Seven Brothers restaurant at the property. Other tenants at the center include Bourbon & Bones, The Stetson Social, F45 Training, Herbal Nail Bar, Salon Blissful and Heartland Dental. Brian Gausden and Jake McClaughry of …
Scottsdale, Ariz. — CBRE has arranged the $22.2 million sale of Scottsdale Commons, a 69,482-square-foot shopping center located in Scottsdale, roughly 13 miles outside Phoenix. The property was 95 percent leased at the time of sale, to tenants including Black Rifle Coffee, Mountain View Pharmacy, Rosati’s Pizza, H&R Block, Rusty Nail Butcher, Green Corner Mediterranean, U.S. Egg and Habanero’s Restaurant. Joseph Compagno and Benjamin Farthing of CBRE represented the seller, Trojan Development Associates III in the transaction. Whitestone REIT, which was also represented by Compagno and Farthing, acquired the property.
Scottsdale, Ariz. — Ziff Real Estate Partners (ZRP) has acquired Mercado at Scottsdale Ranch, a 118,751-square-foot retail center located in the Phoenix suburb of Scottsdale. Whitestone REIT sold the property for $26.5 million. Tenants at the center, which is situated on 11 acres, include Planet Fitness and Walgreens. Steve Julius, Jesse Goldsmith and Chase Dorsett of Newmark represented the seller in the transaction, and Christian Chamblee and Kayla Meier represented ZRP on an internal basis. This marks ZRP’s first purchase in Arizona.
Mesa, Ariz. — Peak Southern LLC has purchased a 5.8-acre land site in the Phoenix suburb of Mesa. Signal Butte & Southern LLC sold the property for $3 million. John Jackson and Kristina Remon of Colliers in Arizona arranged the transaction. The buyer plans to develop a retail center on the property. According to Colliers, the property will be divided into three pad sites that are available for purchase, build-to-suit or ground lease, and the construction schedule will be dependent upon the execution of purchases and leases.
Buckeye, Ariz. — Sunbelt Investment Holdings (SIHI) has broken ground on Buckeye Commons, a 410,000-square-foot retail center in Buckeye, a suburb west of Phoenix. Butler Design Group designed the project, with CHASSE Building Team serving as the general contractor. Tenants at the property will include Over Easy, Starbucks Coffee, Jimmy John’s, The Joint Chiropractic, State Farm and DIP Nail Bar, in addition to a 160,938-square-foot Costco that opened in July 2023. Store openings are scheduled to begin in mid-2025. Greg Laing, Zach Pace and Teale Bloom of Phoenix Commercial Advisors handle …
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 …
