Thompson Thrift Retail Group Buys 25.5-Acre Mixed-Use Parcel in Mesa

MESA, Ariz., Dec. 17, 2021 /PRNewswire/ -- Thompson Thrift Retail Group, a wholly-owned company of Indianapolis-based Thompson Thrift, announced today the acquisition of a 25.5-acre parcel at the northwest corner of Elliot Road and Signal Butte Road in Mesa. The company plans to develop a mixed-use industrial and retail project and is targeting to begin construction in the second quarter of 2022.

Located in the booming Elliot Road Technology Corridor, the parcel is within close proximity to the 202 freeway, U.S. 60, and is minutes from the Phoenix-Mesa Gateway airport. Apple's $2 billion global command center is adjacent to the site and Google and Facebook's data centers are under development within the Corridor. Additionally, Niagara Bottling, EdgeCore, Boeing, Esurance and Bridgestone have large operations in close proximity to the new development.

"The city of Mesa has made a significant investment in infrastructure throughout the Corridor in an effort to accommodate the huge demand in this area," said Chris Hake, senior vice president, director of the Southwest region of Thompson Thrift. "We are excited to expand our presence in the market and make another significant investment in the city of Mesa.  We expect strong interest from several manufacturing and related users who are looking to locate in this growing area within a project that offers more than your typical industrial development."

Preliminary site plans call for three single-story industrial buildings offering a total of 255,000 square feet of space as well as five retail pads at the corner of Elliot and Signal Butte.

Mesa has emerged as one of the country's preeminent locations for high-tech manufacturers and data centers. The Corridor's proximity to 15 higher education institutions, including ASU's Polytechnic campus with nearly 10,000 students enrolled in science, engineering, management, technology, and education programs, keeps a steady flow of strong talent in the area.

Thompson Thrift Retail Group is a full-service real estate development company focused on ground-up commercial and mixed-use development across the Midwest, Southeast and Southwest. The company is well-established in Arizona with several properties throughout the state including over $450 million in projects under construction and under contract across the Phoenix metro, including projects in Glendale, Phoenix, Tempe, Mesa, Tucson, Casa Grande and Peoria. This is their first industrial project in the state, but they are actively seeking additional opportunities.

During the past 30+ years, Thompson Thrift has invested more than $2.7 billion into local communities and has become known as a trusted partner committed to developing high-quality, attractive retail and multifamily projects.

About Thompson Thrift Real Estate Company

Thompson Thrift is an integrated full-service real estate company with offices in Indianapolis and Terre Haute, Indiana; Houston and Phoenix. Three service pillars drive Thompson Thrift's success—Thompson Thrift Retail Group which is focused on ground-up commercial development, Watermark Residential which is focused on upscale apartment home communities and luxury leased homes and Thompson Thrift Construction, a full-service construction company. Through these business units, Thompson Thrift is engaged in all aspects of acquisition, development, construction, leasing, and management of quality multifamily, mixed-use, retail and office projects across the country. We are passionate about our customer's success and strive to ensure our projects not only meet the needs of our customers but also the communities we serve. For more information, please visit www.thompsonthrift.com. 

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SOURCE Thompson Thrift