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San Tan Valley, Ariz. —A joint venture between Pennant Development and REALM LP has acquired a 31-acre land parcel in San Tan Valley, roughly 47 miles southeast of Phoenix, for $10 million, with plans to develop a retail center at the site. Upon completion, Skyline Ranch Marketplace will total 225,000 square feet.
The seller, WinCo Foods, originally acquired the parcel from Miller Global in 2023 and has retained 10 acres of the site for the construction of a new WinCo Foods store, which is currently underway.
Ed Beeh, Chuck Gibson, Stephanie Davis and Robbie Petty of SRS Real Estate Partners represented the buyer in the transaction. SRS will also handle pre-leasing efforts at the property.