Thompson Thrift to develop new retail center in Tempe
Posted 10/24/24
Thompson Thrift, a full-service real estate company and commercial real estate developer, announced Oct. 22 that it has purchased approximately 3.68 acres of land for the development of South Tempe Square, a 27,119-square-foot retail center in Tempe.
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Thompson Thrift to develop new retail center in Tempe
Courtesy Thompson Thrift
Thompson Thrift recently announced its plans to develop a new retail center in Tempe.
Posted
Thompson Thrift, a full-service real estate company and commercial real estate developer, announced Oct. 22 that it has purchased approximately 3.68 acres of land for the development of South Tempe Square, a 27,119-square-foot retail center in Tempe.
Construction is expected in the first quarter of 2025 and opening is planned for early 2026, according to a press release.
“We believe South Tempe Square will provide a high-quality retail center for the community while offering retailers an exceptional high-traffic, high-visibility location,” Andrew Call, Thompson Thrift vice president of development management in the southwest region, said in the release.
South Tempe Square will be developed at the northwest corner of Rural Road and Warner Road, a major trade area that boasts several premier employers and strong population density, household incomes and traffic counts.
The center will consist of four buildings, ranging in size from 4,500 square feet to 9,753 square feet.
Thompson Thrift is in lease negotiations with multiple tenants and is seeking a variety of restaurant, retail and service providers, according to the release.
South Tempe Square is located in the heart of Tempe. The release noted that the intersection of Rural Road and Warner Road is located in an affluent area of Tempe, surrounded by one of the state’s most educated zip codes.
