Thompson Thrift Real Estate has announced plans to develop a 200,000-square-foot retail center in Maricopa. Last summer, the company acquired a 20-acre parcel for $9.5 million.
The retail space will be anchored by Lowe’s, with a 109,000-square-foot building and a 30,000-square-foot garden center. Construction on the Lowe’s portion is set to begin in April.
In addition to Lowe’s, there will be another phase of construction later this year which will include an additional 60,000 square feet of space for a grocery store and approximately10 ,000 square feet for restaurants and other retailers.
Situated at the intersection of John Wayne Parkway and Honeycutt Avenue in an area with high daily traffic volume (approximately68 ,00 vehicles per day), according to Thompson Thrift. The location also provides easy access to Interstate-10 as well as downtown Phoenix.
With over twenty projects currently underway throughout Arizona including retail centers,multifamily properties,and industrial developments,Thompson Thrift continues its strong presence in the state’s real estate market.
