BY AZRE
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.”
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.
