Thompson Thrift Commercial Announces Sale of Sonoran Creek Marketplace Near Phoenix
PHOENIX, June 1, 2022 /PRNewswire/ -- Thompson Thrift Commercial, a wholly-owned company of Indianapolis-based Thompson Thrift, announced today the sale of Sonoran Creek Marketplace, a 75,000-square-foot, Sprouts-anchored shopping center in the Phoenix suburb of Maricopa. The property was purchased by a private buyer from the Pacific Northwest for an undisclosed amount.
"Sonoran Creek Marketplace is a development our entire team is very proud of," said Chris Hake, senior vice president and director of the Southwest region for Thompson Thrift Commercial. "We started this development in the early stages of the pandemic, and today's closing is the culmination of years of hard work put in by our internal team, various consultants and Phoenix Commercial Advisors. A special thank you also goes out to Maricopa's mayor, city manager and city council who were integral to helping bring this project to fruition.
Sonoran Creek Marketplace is located on approximately 14 acres at the southwest corner of John Wayne Parkway and Edison Road. The first phase opened in August 2021 and included Sprouts Farmers Market, Cold Beer & Cheeseburgers, MOD Pizza, Pet Planet, Crumbl Cookies, and several other national and regional users. The second phase is currently under construction and will add Marshall's, NextCare Urgent Care and Thai Chili to the center. Thompson Thrift will continue to manage the construction until the property is completed later this year.
Trent Rustan of Commercial Properties represented the buyer, and Thompson Thrift worked with Phoenix Commercial Advisors on the acquisition, leasing and disposition of the property.
Thompson Thrift Commercial 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 $3.7 billion into local communities and has become known as a trusted partner committed to developing high-quality, attractive projects.
This was the company's first development in Maricopa, but the company is actively looking at additional opportunities in the city to add to its $750 million pipeline of development projects across the Phoenix metro.
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 business units drive Thompson Thrift's successThompson 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 acquisition, development, construction, leasing, and management of quality multifamily, mixed-use, retail, industrial and commercial 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