Thompson Thrift Acquires 20 Acres for Retail Development Near Phoenix

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Jan 22, 2024, 17:24 ET

PHOENIX, Jan. 22, 2024 /PRNewswire/ -- Thompson Thrift, a full-service nationally recognized real estate company, announced today the acquisition of approximately 20 acres of land for the development of South Bridge Marketplace. Construction of the first phase is slated to begin April 2024.

"As the eighth fastest growing city in the United States, Maricopa has seen high demand for additional retail and service options," said Chris Hake, senior vice president, director of the Southwest region for Thompson Thrift. "Thompson Thrift looks forward to giving the residents of Maricopa the best-in-class retail options they're looking for so they can shop close to home."

Located at the northeast corner of John Wayne Parkway and Honeycutt Avenue, with exposure to 68,000 vehicles per day, the first phase of construction will consist of a 130,000-square-foot anchor. The second phase is anticipated to start construction near the end of this year and will feature approximately 60,000 square feet of additional retail that will make space for a grocery store and approximately 10,000 square feet of additional retail and restaurant space.

South Bridge Marketplace is in an active growth corridor with many new multifamily and single-family homes in development. The proposed PHX Surf would bring water slides, a surf pool, a lazy river and outdoor entertainment space. To the south lies the Copper Sky Multigenerational Center and Regional Park, a destination for sports, fitness, recreation and leisure activities.

Located between Phoenix and Tucson, Maricopa offers convenient access to major markets throughout the Southwest. Interstate 10, the southernmost coast-to-coast highway in the United States, is just 15 minutes from Maricopa along John Wayne Parkway and directly connects to Phoenix, Tucson and Los Angeles.

Thompson Thrift is a full-service real estate development company focused on ground-up commercial and mixed-use development across the Midwest, Southeast and Southwest. Since its founding more than 30 years ago, Thompson Thrift has invested more than $5 billion into local communities and has become known as a trusted partner committed to developing high-quality, attractive commercial and multifamily communities.

Thompson Thrift is well-established throughout Arizona with more than 20 retail, multifamily and industrial projects in development, with an estimated volume of more than $1.5 billion.

About Thompson Thrift Real Estate Company
Thompson Thrift is an integrated full-service real estate company with offices in Indianapolis and Terre Haute, Indiana; Denver; Houston and Phoenix. Three business units drive Thompson Thrift's success—Thompson Thrift Residential which is focused on upscale Class A multifamily communities and luxury leased homes, Thompson Thrift Commercial which is focused on ground-up commercial development, and Thompson Thrift Construction, a full-service construction company. Through these business units, Thompson Thrift is engaged in all aspects of development, construction, leasing, and management of quality commercial real estate projects across the country. The company earned national recognition as a winner of a 2023 Top Workplaces USA award, the latest accolade that reflects the company's ongoing commitment to excellence in the community and workplace. For more information, please visit www.thompsonthrift.com

Contact:
Jennifer Franklin
Spotlight Marketing Communications
949.427.1385
[email protected]

SOURCE Thompson Thrift