Thompson Thrift Retail Group Sells Sunrise Promenade outside Phoenix for $18.25 Million

Published: October 18, 2021 at 2:35 p.m. EDT|Updated: a few moments ago

PHOENIX, Oct 18, 2021 / PRNewswire / – Thompson Thrift Retail Group, wholly owned by Indianapolis-based Thompson Thrift, today announced the sale of Sunrise Promenade, a retail mall in the Phoenix Suburb of Peoria. The property was being traded for to an unknown buyer $ 18.25 million.

Thompson Thrift (PRNewsfoto / Thompson Thrift)

Conveniently located just south of the southeast corner of Lake Pleasant Parkway and Happy Valley Road, Sunrise Promenade is anchored by the international supermarket chain Aldi and has 26,852 square feet of multi-tenant space. The development includes several national, regional, and local retailers and restaurants such as Black Rock Coffee Bar, Club Pilates, Sherwin-Williams, Dip Nail Spa, Harumi Sushi, Wow Wow Hawaiian Lemonade, Stretch Labs, Butta Cakes, Pearle Vision, and several others.

Sunrise Promenade is the retail component of a master plan that includes Grandstone at Sunrise, a new luxury villa-style villa currently under construction by the multi-family business unit of Thompson Thrift.

“Due to the property’s excellent market positioning and synergies with our neighboring multi-family community, we were able to achieve an impressive sales price,” said Chris Hake, Senior Vice President, Director of the Southwest Region for Thompson Thrift. “We have received great interest from several buyers and I look forward to finding another opportunity in Peoria. “

Thompson Thrift Retail Group is a full-service real estate development company focused on commercial and mixed-use real estate in the Midwest, Southeast and Southwest. The company is well established in Arizona with multiple retail and apartment buildings across the state, including over $ 350 million in projects under construction and on commission throughout Phoenix Subway, including projects in Glendale, Phoenix, Tempe, Mesa, Tucson, Large house and Peoria.

In the past 30+ years, Thompson Thrift has done more than $ 2.7 billion into the local communities and has established itself as a trusted partner for developing high quality, attractive retail and multi-family projects.

About Thompson Thrift Real Estate Company
Thompson Thrift is a full-service integrated real estate company with offices in Indianapolis and Terre Haute, Indiana; Houston and Phoenix. Three service pillars drive Thompson Thrift’s success – Thompson Thrift Retail Group, which focuses on commercial development from the ground up, Watermark Residential, which focuses on upscale community and luxury rental homes, and Thompson Thrift Construction, a full-service construction company . Through these businesses, Thompson Thrift is engaged in all aspects of the acquisition, development, construction, rental and management of high quality multi-family, mixed-use, retail and office projects across the country. The success of our customers is important to us and we strive to ensure that our projects meet not only the needs of our customers but also the communities we serve. More information is available at www.thompsonthrift.com.

Contact:
Jennifer Franklin
Spotlight Marketing Communication
949.427.1385
jennifer@spotlightmarcom.com

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SOURCE Thompson Thrift

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