Retail tenants are set to begin operating at the site in late 2024. Credit: Thompson Thrift.

Full-service real estate company Thompson Thrift has begun construction on the retail segment of a 21-acre mixed-use plot situated in Phoenix, US.

The mixed-use project will be anchored around Sprouts Farmers Market store, which spans approximately 23,000ft².

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Initial retail tenants are anticipated to start operating at the property in late 2024.

Situated at the junction of 99th Avenue and McDowell Road in Phoenix’s West Valley, Thrift has already secured leases with various businesses.

These include Cava, a Mediterranean fast-casual restaurant; Nekter Juice Bar, Shake Shack, and Torchy’s Tacos, among others.

Additionally, the development will feature LaserAway, a medical spa, a nail salon, Valvoline, and V’s Barbershop,

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Currently, there is only one inline shop space and two pad sites left for lease.

The project also has plans for a Class A multifamily complex to be developed at a later stage.

Thrift Commercial managing partner Ashlee Boyd said: “This property rests on the last undeveloped corner of a major regional intersection.

“We believe this will be a standout centre and a lasting asset for the community.”

Located at the intersection of the Interstate 10 motorway and Loop 101, the site is opposite Gateway Pavilions, a retail centre housing national brands such as Costco, Ulta Beauty, and more.

It is also a short drive north of the Southwest Valley Industrial Corridor and less than five miles south of the Glendale Sports and Entertainment District.

Thrift senior vice-president and director of Southwest region Chris Hake added: “Our long-standing history developing commercial centres in Arizona was instrumental in securing the approvals and commitments necessary to move this project forward.”