SRS has completed the $10 million sale of a 31-acre commercial land parcel at the northeast corner of Hunt Highway and Gary Road in San Tan Valley, Arizona. The transaction marks a significant milestone in the commercial expansion of the rapidly growing southeast Phoenix submarket.
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The property was sold by WinCo Foods, which originally acquired the larger parcel from Miller Global in 2023. WinCo has retained 10 acres of the site, where it recently broke ground on a new WinCo Foods store. The remaining 31 acres were acquired by a venture between Scottsdale based Pennant Development, LLC and Nashville based REALM, LP which has tapped SRS to handle the leasing for the forthcoming Skyline Ranch Marketplace retail center.
SRS is working to secure pre-leases for the center’s junior anchor lineup, two shop buildings, and several pad sites. The center will include over 225,000 square feet of retail space. The project is poised to serve the growing residential population in San Tan Valley and surrounding communities.
The SRS team includes Ed Beeh, Chuck Gibson, Stephanie Davis and Robbie Petty.
“This project was initiated over a decade ago by other parties, and we’re thrilled to see it finally come to fruition,” said Beeh, Executive Vice President & Managing Principal with SRS. “Both WinCo and Pennant had the vision to bring a high-quality retail development to this underserved trade area.”
