Economic outlook strong for Sundome Plaza, despite recent closures
National clothing retailer Draper’s and Damon’s is one of several business recently closed or closing soon at Sundome Plaza, 13519 W. Camino del Sol. The plaza’s leasing manager said the future remains bright for the local retail center.
By Matt Roy, Independent Newspapers
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Economic outlook strong for Sundome Plaza, despite recent closures
Posted
By Matt Roy
National clothing retailer Draper’s and Damon’s is one of several business recently closed or closing soon at Sundome Plaza, 13519 W. Camino del Sol. The plaza’s leasing manager said the future remains bright for the local retail center.
By Matt Roy, Independent Newspapers
A spate of recent closures may have some residents and business leaders in Sun City West worried.
But new vacancies are likely more a result of circumstance than a sign of any downward trend for Sundome Plaza, 13519 W. Camino del Sol. The 221,000-square-foot plaza is home to dozens of businesses, including the anchor tenant, Safeway, as well as Bealls Outlet and Bob’s Variety.
Three high-profile tenants are currently closed or closing soon, for a total of 11,000-square-feet, with a fourth 866-square-foot space also available.
Mike Ord is vice president at D.L. Slaughter, the commercial real estate firm managing leasing for the plaza. He said the timing is coincidence and not likely a sign of economic difficulties for the plaza or area businesses.
“The Hallmark closure we knew was coming,” he said.
The store’s owners chose to consolidate to their other Hallmark location, just two miles away in Surprise. The Sun City West store manager, Danielle Wetzel, in January told the Independent a slower-than-expected recovery after the recession, as well as competition from online sales, had led her family to close the Sundome Plaza location, which officially shut its doors April 15.
Draper’s and Damon’s, a national chain of clothiers, shuttered all their brick-and-mortar stores nationwide, including their Sun City West location, as part of a reorganization, Mr. Ord said.
“Draper’s and Damon’s closed all of their national locations and are in bankruptcy,” he said. “After that, they’re taking the whole business online.”
The family-owned Cranstoun Court Jewellers wants to sell the business and retire, but may remain in operation until their lease expires in about two of years, Mr. Ord said.
He said the plaza and Safeway were recently repainted and remodeled and he anticipates continued strong interest in the property, which is currently 95 percent occupied.
“For years we’ve enjoyed an almost 100 percent occupancy rate, which was way above the average for the area,” he said.
Industry reports back up his analysis.
Colliers International reported the Phoenix metro area market’s average retail occupancy rate as 90.5 percent in the last quarter of 2016. At 93 percent occupancy, the West Valley was the second strongest retail market in the Phoenix metro area, with only the area around Sky Harbor International Airport reporting lower vacancy rates. The highest vacancy rates were reported in North Phoenix and downtown Phoenix.
D.L. Slaughter hopes to add health care tenants or new restaurants to serve the community, Mr. Ord said.
“We are actively seeking restaurant concepts,” he added. “We think there is a shortage of restaurants in the area and the ones in the plaza do extremely well.”
Contact Mike Ord at mike@dlslaughter.com.
Other restaurants at Sundome Plaza are Hole ‘n One Restaurant & BBQ and Florencia Pizza.
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