US-based real estate company Thompson Thrift has commenced the construction of the commercial portion of a mixed-use development in the Phoenix suburb of Glendale in Arizona, US.
The 12-acre commercial portion, situated at the southwest corner of Loop 101 and Northern Avenue, sits on the northern half of a 24-acre land.
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This portion will be occupied by Slim Chickens, Cobblestone Auto Spa, Whataburger, a 122-room hotel, QuikTrip, Extra Space Storage, and Black Rock Coffee.
Thompson Thrift Commercial managing partner Ashlee Boyd said: “This is a prime site for development in a city that is experiencing significant growth and job creation.
“The development process requires patience, persistence and vision, and it is a great feeling to begin construction on a fully leased commercial development.”
The company sold over 10 acres of the site to Missouri-based real estate developer Ridgehouse Capital.
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By GlobalDataThe real estate developer intends to construct nearly 300 market-rate apartment homes on the southern half of the property.
Thompson Thrift stated that the project site is directly across the lifestyle shopping centre Park West, less than three miles from Glendale’s Sports and Entertainment District.
The Sports and Entertainment District of Glendale includes the 18,000-seat Desert Diamond Arena; Topgolf Glendale; and State Farm Stadium, home of the Arizona Cardinals.
Thompson Thrift Southwest region director and senior vice president Chris Hake said: “Proximity and convenience for shoppers remain fundamental elements of successful developments.
“We are thrilled to be in the final stage of development on this well-located site with a roster of high-quality tenants eager to serve the daily needs of this growing community.”
