Thompson Thrift Retail Group sells Sunrise Promenade outside of Phoenix for $ 18.25 million

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Posted: October 18, 2021 at 2:35 p.m. EDT|Update: 1 hour ago

PHOENIX, October 18, 2021 / PRNewswire / – Thompson Thrift Retail Group, a wholly owned company of Indianapolisbased in Thompson Thrift, today announced the sale of Sunrise Promenade, a shopping center located in the Phoenix suburb of Peoria. The property was traded to an undisclosed buyer for $ 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 many more.

Sunrise Promenade is the commercial component of a planned development that includes Grandstone at Sunrise, a new luxury rental villa style community that is currently under construction by the Thompson Thrift Multi-Family Business Unit.

“We were able to obtain an impressive sale price thanks to the excellent positioning of the property in the market and the synergy of our neighboring multi-family community,” said Chris Hake, senior vice president, Southwest region manager of Thompson Thrift. “We have received keen interest from several buyers, and I look forward to finding another opportunity to work in Peoria. “

Thompson Thrift Retail Group is a full-service real estate development company focused on commercial and mixed-use development in the Midwest, Southeast and Southwest. The company is well established in Arizona with several commercial and multi-family properties throughout the state, including over $ 350 million in projects under construction and under contract through the Phoenix metro, including projects in Glendale, Phoenix, Temple, Mesa, Tucson, Casa Grande and Peoria.

Over the past 30+ years, Thompson Thrift has invested over $ 2.7 billion in local communities and has established itself as a trusted partner committed to the development of attractive and high quality commercial 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 pillars of service drive Thompson Thrift’s success: Thompson Thrift Retail Group which focuses on core business development, Watermark Residential which focuses on high-end apartment communities and luxury rental homes, and Thompson Thrift Construction, a full-service construction company. Through these business units, Thompson Thrift handles all aspects of the acquisition, development, construction, leasing and management of quality multi-family, mixed-use, retail retail and offices across the country. We are passionate about the success of our clients and strive to ensure that our projects not only meet the needs of our clients, but also the communities we serve. For more information, please visit www.thompsonthrift.com.

Contact:
Jennifer franklin
Marketing communications in the spotlight
949.427.1385
[email protected]

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SOURCE Thompson Thrift

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