Thompson Thrift Acquires 20 Acres for Retail Development Near Phoenix
January 23, 2024
Phoenix, AZ
PHOENIX (Jan. 22, 2024) – 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 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.
