{"id":1004699328,"date":"2024-01-25T04:45:25","date_gmt":"2024-01-25T12:45:25","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004699328"},"modified":"2024-01-25T06:50:23","modified_gmt":"2024-01-25T14:50:23","slug":"thompson-thrift-buys-20-acres-for-retail-development-in-phoenix","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/thompson-thrift-buys-20-acres-for-retail-development-in-phoenix\/","title":{"rendered":"Thompson Thrift Buys 20 Acres for Phoenix Project"},"content":{"rendered":"\n<p><strong>Thompson Thrift<\/strong> <strong>Real Estate<\/strong> has purchased 20 acres for the development of South Bridge Marketplace, a 200,000-square-foot <a href=\"https:\/\/www.commercialsearch.com\/news\/what-lies-ahead-for-retail-in-2024\/\">retail destination<\/a> in Maricopa, Ariz.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a1d6cc4e0971&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-medium is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004699332\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/thompson-thrift-buys-20-acres-for-retail-development-in-phoenix\/south-bridge-marketplace-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/South-Bridge-Marketplace-2-e1706176900611.jpg\" data-orig-size=\"388,291\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"South Bridge Marketplace 2\" data-image-description=\"&lt;p&gt;South Bridge Marketplace will rise in an area with several residential developments. Image courtesy of Thompson Thrift&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;South Bridge Marketplace will rise in an area with several residential developments. Image courtesy of Thompson Thrift&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/South-Bridge-Marketplace-2-e1706176900611.jpg?w=388\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" height=\"225\" width=\"300\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/South-Bridge-Marketplace-2-e1706176900611.jpg?w=300\" alt=\"South Bridge Marketplace plan.\" class=\"wp-image-1004699332\" style=\"width:301px;height:auto\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/South-Bridge-Marketplace-2-e1706176900611.jpg 388w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/South-Bridge-Marketplace-2-e1706176900611.jpg?resize=300,225 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">South Bridge Marketplace will rise in an area with several residential developments. <em>Image courtesy of Thompson Thrift<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>The first phase will consist of a 130,000-square-foot anchor, while the second is slated to encompass a 60,000-square-foot grocery store and some 10,000 square feet of additional retail and restaurant space. Construction start is slated for April, with the second phase set to break ground in the second half of the year.<\/p>\n\n\n\n<p>Located at the northeast corner of John Wayne Parkway and Honeycutt Avenue, the South Bridge Marketplace site is in an area where the daily traffic count reaches approximately 68,000 vehicles per day, according to Thompson Thrift. The John Wayne Parkway provides direct access to Interstate 10 and downtown Phoenix.<\/p>\n\n\n\n<p>The company\u2019s Senior Vice President Chris Hake stated in prepared remarks that Maricopa encountered high demand for retail and service options, being the eighth fastest-growing city in the U.S. Maricopa\u2019s location between\u00a0Phoenix\u00a0and\u00a0Tucson also provides convenient access to other major markets throughout the Southwest.<\/p>\n\n\n\n<p>According to a recent <strong>Marcus &amp; Millichap<\/strong> report, retailers are expanding across the suburbs due to Maricopa County\u2019s recent, nation-leading population growth. More than 80 percent of metro Phoenix&#8217;s under-construction retail space was preleased as of October last year. This trend and a lack of speculative development led to the record-low 5.2 percent vacancy rate recorded in June, the same source shows.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Plans call for an April groundbreaking on the retail development.<\/p>\n","protected":false},"author":3014,"featured_media":1004699332,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21742,1601,21749,15],"tags":[34836,49300],"class_list":["post-1004699328","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-latest","category-phoenix","category-retail","category-west","tag-marcus-millichap","tag-thompson-thrift-real-estate"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Thompson Thrift Buys 20 Acres for Phoenix Project - 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