Phoenix — Colliers has arranged the sale of South Mountain Crossing, an 89,389-square-foot retail center located in Phoenix. ACP Management acquired the property. Tenants at the center include SkyZone Trampoline Park, Goodwill and Kids Empire. Mindy Korth, JK Jackson, El Warner and Caitlin Zirpolo of Colliers represented the seller, Lamar Cos., in the transaction.
Phoenix — Matthews Real Estate Investment Services has arranged the $9.5 million sale of a retail property located in Phoenix. Built in 2002 on 5.13 acres, the building comprises 45,000 square feet. LA Fitness occupies the property. The tenant’s current lease extends through 2025. Brandon Perez of Matthews represented the seller in the deal.
Sun City, Ariz. — Gantry has secured a $7.5 million permanent loan for the refinancing of Sun Shadow Square, a retail center located in Sun City, roughly 22 miles outside Phoenix. Tenants at the 84,000-square-foot property include Ace Hardware, H&R Block and Archwell Health. Tim Storey of Gantry secured the 10-year financing on behalf of the undisclosed borrower.
Chandler, Ariz. — ORION Investment Real Estate has arranged the $4.6 million sale of a retail strip center located in Chandler. Max Taylor & Co. LLC sold the asset to The Yerahmiel Rocky Rotshein Property Trust. The property was fully leased at the time of sale. Nick Miner of ORION represented the seller in the transaction. Simon Asef of DMC Real Estate represented the buyer.
Kaysville, Utah — Utah-based indoor pickleball brand The Picklr will open 80 new venues across eleven states, including Arizona, Colorado, Florida, Georgia, Illinois, Minnesota, Nevada, Tennessee, Texas, Utah and Wyoming. The facilities will be opened in partnership with 13 new franchisees. “With seven corporate owned facilities, our first-mover advantage has undeniably led to a high level of interest from well capitalized candidates across the entire country,” says Scott Schubiger, chief growth officer of The Picklr.
Chandler, Ariz. — Jewell Capital has sold SanTan Gateway North, a 123,558-square-foot retail center in Chandler. Coast Meridian Properties acquired the property for $26.6 million. Situated on 17.1 acres, the center is leased to tenants including Walmart Supercenter, O’Reilly Auto Parts, Dollar Tree, Sky Zone and Shane Co. Additionally, Wendy’s, Del Taco and JPM Chase occupy three outparcels. Darren Tappen, Nathan Thinnes and Peter Beauchamp of Kidder Mathews represented the seller in the transaction.
Queen Creek, Ariz. — Sprouts Farmers Market has opened a 50,000-square-foot store at Vineyard Towne Center, a 23-acre retail development currently underway by Vestar in the Phoenix suburb of Queen Creek. Sprouts is the anchor tenant of Phase I of the project. A 145,000-square-foot Target will open in April 2025 and anchor the development’s Phase II. Other tenants at Phase I, which is currently 90 percent leased, include Chunk Cookies, Cinnaholic, Dentists of Queen Creek, European Wax Center, MOD Pizza, Mountain America Credit Union, Mr. Pickles, Nekter Juice Bar, Ono Hawaiin …
Arizona and Florida —SRS Real Estate Partners has arranged the $94 million sale of seven single-tenant EoS Fitness properties in Arizona and Florida. Patrick Nutt and William Wamble of SRS Capital Markets represented the seller, Barclay Group, in the transaction. A publicly traded REIT acquired the properties. Tyler McRae of SRS, along with Echelon Realty Advisors, was responsible for leasing the assets on behalf of EoS Fitness. The portfolio includes two properties in Mesa, Arizona, comprising 57,803 and 51,716 square feet, as well as properties in Tempe, Scottsdale and Queens Creek, …
Goodyear, Ariz. — Eight tenants are joining Canyon Trails Towne Center, a 90-acre mixed-use development located in Goodyear, roughly 19 miles outside Phoenix, bringing the property to full occupancy. Chipotle Mexican Grill recently opened a restaurant at the center, and Michael’s and Five Below will occupy 18,300 and 10,434 square feet, respectively. Target and Ross Dress for Less have also signed leases at the property, and Starbucks Coffee, Freddy’s Steakburgers and Denny’s are currently underway on the construction of spaces scheduled to open this fall. The landlords, principals of Santa Cruz …
Gilbert, Ariz. — The Town of Gilbert, a suburb southeast of Phoenix, has approved the zoning request for a 311-acre mixed-use development called The Ranch. Indicap, Colmena Group and Langley Properties are leading the project and estimate development costs of more than $1 billion. Upon completion, The Ranch will offer 221 acres of light industrial space, 39 acres of commercial space, 39 acres of multifamily space and 16 acres of public green space. The commercial space is expected to include restaurants, storage, convenience stores, office space, a fitness center, small grocer …
