Lowe's Expands Presence at New Marketplace Near Phoenix
Introductory Overview of Lowe's New Opening
Lowe's Home Improvement has recently opened a spacious 130,000-square-foot store at South Bridge Marketplace, marking a significant enhancement in retail offerings for the local community. This opening not only symbolizes growth but also indicates the potential for future developments planned by Thompson Thrift.
Future Growth Opportunities at South Bridge Marketplace
The company is set to initiate construction on a second phase, featuring an additional 54,000-square-foot space that will be anchored by ALDI. This second phase underscores Thompson Thrift's commitment to strategically develop spaces that meet the growing needs of the community.
Significance of the Opening for Local Growth
According to Dan Sink, president and chief financial officer of Thompson Thrift, the successful launch of Lowe's reflects a strong partnership with local governance aimed at delivering essential amenities to one of Arizona's fastest-growing regions. This collaborative effort fosters a unique business environment catered to residents.
High Visibility and Accessibility of South Bridge Marketplace
Situated at a prime intersection, the marketplace is positioned to attract significant traffic with nearly 70,000 vehicles passing daily, making it an ideal location for retailers. The local infrastructure is designed to support continued growth and investment.
High Growth in Maricopa: A Potential Hotspot
Over the last two decades, Maricopa has seen impressive growth, leading to a heightened demand for services. The area's pro-business attitude and community-oriented leadership draw national brands looking for long-term investment opportunities, further boosting the local economy.
Robust Demand from Tenants
Ashlee Boyd, managing partner for Thompson Thrift Commercial, emphasizes that Maricopa's dynamic market is characterized by strong demand from both regional and national retailers, indicating a promising future for the remaining commercial spaces yet to be filled.
Thompson Thrift's Commitment to Quality Developments
With nearly 40 years of experience, Thompson Thrift has invested over $6 billion in multifamily and commercial projects across several regions, consistently focusing on delivering quality developments that cater to the needs of evolving communities.
Ongoing Projects Across Arizona
Thompson Thrift remains highly active across Arizona, with various significant developments underway. Projects like Elliot Tech Center, Germann Commerce Center, and Pointe17 highlight the company's strategic investment and commitment to quality growth in emerging markets.
About Thompson Thrift Real Estate Company
Established in 1986, Thompson Thrift has transitioned from a locally oriented development operation into a comprehensive enterprise providing integrated solutions across the U.S. With offices in several cities, the company specializes in the development, construction, leasing, and management necessary for quality multifamily and commercial environments.
Recognition and Community Engagement
The company has received accolades such as the Top Workplaces USA award, showcasing its dedication to excellence not only in its projects but also in creating a positive work environment and contributing to the community's wellbeing.
Frequently Asked Questions
What are the highlights of Lowe's new store opening?
The new Lowe's store is significant due to its size, strategic location, and the subsequent development plans for additional retail space.
When is the second phase of South Bridge Marketplace expected to begin?
The second phase is slated to commence construction later this year, further enhancing the marketplace offerings.
How has Thompson Thrift contributed to local development?
Thompson Thrift has invested significantly in local communities, developing high-quality projects that resonate with community needs.
What kind of retail growth is anticipated in Maricopa?
With substantial tenant demand, Maricopa is expected to see ongoing growth, attracting more national retailers.
What recognition has Thompson Thrift received recently?
Thompson Thrift was honored with the Top Workplaces USA award, reflecting its commitment to employee satisfaction and community involvement.
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