After working for 18 months to acquire the property, Thompson Thrift Retail Group recently paid $9.3M for a 50-acre-plus site at the NEC of 99th Avenue and McDowell Road where it plans to build a $150M mixed-use multifamily and retail site.
The 65KSF retail portion will be anchored by a Sprouts Farmers Market. No other tenants have been named, but Thompson Thrift representatives say the commercial buildings will range from 3.5KSF to 14.6KSF and are currently approximately 70% pre-leased.
Groundbreaking is tentatively scheduled for next summer, and Sprouts representatives have said they expect to open the store by end of 2024.
Thompson Thrift acquired the site from an entity associated with Sheely Farms and was represented in the deal by Dan Gardiner of Phoenix Commercial Advisors. The seller was represented by Nathan and Associates.
Leasing agents for the property are Jake Heims and Ryan Smith with Thompson Thrift. (Source)
