PHOENIX, Sept. 18, 2020 /PRNewswire/ -- Thompson
Thrift Retail Group, a wholly-owned company of Indianapolis-based Thompson Thrift, announced
today that Sprouts Farmers Market will anchor Sonoran Creek
Marketplace, a 75,000-square-foot project the company is developing
in Maricopa. Sprouts (NASDAQ:
SFM), the Phoenix-based specialty
grocery chain that concentrates on natural and organic foods, is
expected to open in September
2021.
"Maricopa is one of the largest
Arizona markets without a
specialty grocer and the existing retail in the trade area has very
strong occupancy and sales, so our
team thought this could be an excellent opportunity for an
outstanding grocer like Sprouts," said Chris Hake, senior vice president, director of
the Southwest region for Thompson Thrift. "Even during these
unprecedented times, our team was able to come together, acquire a
prime property in the center of Maricopa's retail district, and bring an
industry leader like Sprouts to the community. The Sonoran Creek
Marketplace will be an extremely attractive location for additional
retailers and restaurants looking to locate or relocate in
Maricopa."
Sonoran Creek Marketplace will sit on approximately 14 acres of
land at the southwest corner of John Wayne Parkway and Edison Road
and the development has an estimated cost of $30 million. The project is located in the heart
of Maricopa's trade area and is
expected to bring a host of national, regional and local retailers
and restaurants to the community. In addition to the
23,293-square-foot Sprouts Farmers Market, TTRG has signed leases
with The Joint Chiropractic, State Farm Insurance, Jimmy John's and Filiberto's Mexican Food. The
company is also working with several other retail and restaurant
concepts to join Dutch Bros, Culver's and Fast & Friendly Express
Carwash who are already open for business within the
development.
Located approximately 35 miles south of Phoenix, Maricopa is America's 17th fastest
growing city with fewer than 50,000 residents. To help keep up with
this growth, approximately 22,000 new residential units are
currently planned, permitted, or under construction in the city.
The City of Maricopa was also
ranked the second best place to raise a family in Arizona, the sixth safest city in Arizona, and one of Arizona's Top 10 Best Places to Live.
Nathan Steele, director of
economic & community development for Maricopa stated, "This new shopping center is
a boon for Maricopa. We are
excited that our growing community will benefit from nearly 300 new
jobs and an array of quality retail and dining options that
Thompson Thrift will bring with this new shopping center."
This is the first project for Thompson Thrift Retail Group in
Maricopa, but the company is
actively looking at additional
opportunities in the city. In addition to the Maricopa development, TTRG's 2021
Southwest pipeline is
projected to include over
$120 million in volume across the
Phoenix metro, including
planned projects in Glendale,
Tempe, Peoria, Mesa,
Tucson, Casa Grande and Peoria. Since opening Thompson Thrift Retail
Group's Phoenix office in 2016,
the Southwest region has sourced and developed more than 22
projects across the southwestern United
States.
Thompson Thrift Retail Group is a full-service real estate
development company focused on ground-up commercial and mixed-use
development across the Midwest, Southeast and Southwest. During the
past 30+ years, Thompson Thrift has invested more than $2.2 billion into local communities and has
become known as a trusted partner committed to developing
high-quality, attractive retail and multifamily projects.
About Sprouts Farmers Market, Inc.
Sprouts is
the place where goodness grows. True to its farm-stand heritage,
Sprouts offers a unique grocery experience featuring an open layout
with fresh produce at the heart of the store. Sprouts inspires
wellness naturally with a carefully curated assortment of
better-for-you products paired with purpose-driven people. The
healthy grocer continues to bring the latest in wholesome,
innovative products made with lifestyle-friendly ingredients such
as organic, plant-based and gluten-free. Headquartered in
Phoenix, and one of the fastest
growing retailers in the country, Sprouts employs more than 35,000
team members and operates more than 350 stores in 23 states
nationwide. To learn more about Sprouts, and the good it brings
communities, visit about.sprouts.com.
About Thompson Thrift Real Estate Company
Thompson Thrift is an integrated full-service real estate company
with offices in Indianapolis and
Terre Haute, Ind., Houston, Texas, and Phoenix, Arizona. Three service pillars drive
Thompson Thrift's success—Thompson Thrift Retail Group which is
focused on ground-up commercial development, Watermark Residential
which is focused on upscale multifamily communities and luxury
leased homes, and Thompson Thrift Construction, a full-service
construction company. Through these business units, Thompson Thrift
is engaged in all aspects of acquisition, development,
construction, leasing, and management of quality multifamily,
mixed-use, retail and office projects across the country. We are
passionate about our customer's success and strive to ensure our
projects not only meet the needs of our customers but also the
communities we serve. For more information, please visit
www.thompsonthrift.com.
Contact:
Jennifer
Franklin
Spotlight Marketing Communications
949.427.1385
jennifer@spotlightmarcom.com
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SOURCE Thompson Thrift