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.
Phoenix — Phoenix Commercial Advisors has arranged the $20.5 million sale of Laveen Commons, a 12.1-acre retail center located in Phoenix. Totaling 102,083 square feet across four buildings, the property was fully leased at the time of sale. Tenants at the center include Big Lots, Big 5 Sporting Goods, Ace Hardware and 99 Cents Only. John Schweikert and Chad Tiedeman of Phoenix Commercial Advisors represented the undisclosed seller in the deal.
Goodyear, Ariz. — Raymond Arjmand has acquired Palm Valley Pavilions West, a 232,573-square-foot retail center located in Goodyear, roughly 20 miles outside Phoenix. Tenants at the property, which was 99 percent leased at the time of sale, include Best Buy, Total Wine, Barnes & Noble, ULTA Beauty and Ross Dress for Less. Vestar will manage the center on behalf of the buyer. This marks the 19th property in the state under Vestar’s management.
Japanese fast-casual concept Pepper Lunch has signed two deals to open 20 restaurants in Florida and Hawaii. The first agreement includes plans for 10 units in Florida in the Tampa, Orlando and Gainesville markets. The Majestic Restaurant Group will operate the restaurants, with the first opening scheduled for the third quarter of 2024. In Hawaii, NiKU LLC will develop an additional 10 restaurants. The opening of the first unit is scheduled for the first quarter of 2025, with initial development focused on Honolulu and the greater island of Oahu. Established …
Buckeye, Ariz. — SimonCRE has acquired land for Roosevelt Commons, a 15.6-acre mixed-use project to be developed in Buckeye. Upon completion, the property will feature retail and restaurant space, as well as a hotel. Several tenants, including Mexican restaurant Someburros, have signed leases at the development. Construction is scheduled to begin in January, with delivery of the first phase expected in late 2024.
Phoenix — EoS Fitness has opened a 42,000-square-foot gym in Phoenix. This marks the 30th location in the state for the brand. Amenities at the property include a cardio movie theater lined with treadmills, elliptical machines, stationary bikes and stair climbers and EoS Yard, a turf functional training area with battle ropes, sleds and tire flips. The gym also features saunas, a stretch tables, percussion massagers, compression boots and massage chairs.
Buckeye, Ariz. — Vestar has signed leases with six tenants to anchor Verrado Marketplace, a planned 500,000-square-foot shopping center to be located in Buckeye, roughly 35 miles outside Phoenix. Target, Harkins BackLot, Safeway, Marshalls, Ross Dress for Less and HomeGoods are scheduled to open at the property in late 2025. Harkins BackLot will occupy 75,000 square feet with an entertainment concept featuring a restaurant, sports viewing arena, arcade, bowling alley and private event area. Target will open a 147,000-square-foot store, and Ross Dress for Less and HomeGoods will occupy a total …
Mesa, Ariz. — A joint venture managed by Crow Holdings Capital has purchased The Shops at Sossaman, a 34,151-square-foot retail center located in Mesa. Abington Emerson Investments sold the property for $8.1 million. Tenants at the center, which was built in 2002, include Banner Health Physical Therapy, East Valley Pet Urgent Care, Empower Academy and Crave Pizza. The property was fully leased at the time of sale. Steve Julius, Jesse Goldsmith and Chase Dorsett of Newmark represented the buyer and seller in the transaction.