Thompson Thrift, a full-service nationally recognized real estate company, announced today the commencement of construction on the 12-acre commercial portion of a mixed-use development in the Phoenix suburb of Glendale. Thompson Thrift expects the first tenants to open later this year.
“This is a prime site for development in a city that is experiencing significant growth and job creation,” said Ashlee Boyd, managing partner for Thompson Thrift Commercial. “The development process requires patience, persistence and vision and it is a great feeling to begin construction on a fully leased commercial development. We appreciate the support we have received from everyone involved in getting us to this point.”
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Located at the southwest corner of Loop 101 and Northern Avenue, the commercial piece sits on the northern half of a 24-acre parcel and will include Black Rock Coffee, Cobblestone Auto Spa, Whataburger, Slim Chickens, QuikTrip, Extra Space Storage and a 122-room hotel. Thompson Thrift sold just over 10 acres of the site to St. Louis, Missouri-based Ridgehouse Capital, who plans to build approximately 300 market-rate apartment homes on the southern half of the property.
The site is directly across from Park West, a lifestyle shopping center featuring quality name-brand and distinctive local retailers and is less than three miles from Glendale’s Sports and Entertainment District that includes State Farm Stadium, home of the Arizona Cardinals; the 18,000-seat Desert Diamond Arena; and Topgolf Glendale.
“Proximity and convenience for shoppers remain fundamental elements of successful developments,” said Chris Hake, senior vice president and director of the Southwest region for Thompson Thrift. “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.”
Glendale is located approximately nine miles northwest from downtown Phoenix and is home to more than 250,000 people and a growing list of signature companies that call the city home. The city has become known as a premier destination to live, work and play and plays host to mega concerts and events including its third Super Bowl next month and its second NCAA Final Four championship series in 2024.
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 $4 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.