REALM and Pennant Development: New Horizons in Retail Growth
REALM Partners with Pennant Development for Skyline Ranch Marketplace
REALM, in partnership with Pennant Development, has embarked on an exciting new project by acquiring Skyline Ranch Marketplace. This 31-acre site is poised for transformation into a vibrant retail hub in the rapidly growing San Tan Valley.
A Retail Development Designed for Growth
The planned development comprises a 165,500 square-foot retail shopping center. It aims to attract premier national tenants, catering to the evolving needs of an expanding community. As a part of the Phoenix metropolitan area, San Tan Valley is witnessing remarkable growth, providing a substantial opportunity for retail expansion.
Community and Economic Potential
San Tan Valley is projected to exceed 110,000 residents soon, with an impressive annual growth rate near 2.6%. This influx supports a rising average household income of over $84,700 within the area, indicating a solid demand for retail services. The local economy is vibrant and ready for new retail opportunities.
Leaders in the Field Share Enthusiasm
Travis King, Founder and CEO of REALM, has expressed great enthusiasm regarding this collaboration with Pennant Development. He remarked on the strong growth trends in Phoenix and San Tan Valley, emphasizing REALM's commitment to expanding its presence in this promising market.
The Heart of the Marketplace
The centerpiece of Skyline Ranch Marketplace will be a brand-new WinCo Foods store, set to open in a couple of years. This will complement existing establishments such as The Home Depot, Panda Express, and Freddy’s Frozen Custard & Steakburgers. Furthermore, notable national retailers like Ulta Beauty, Marshalls, HomeGoods, PetSmart, and Five Below are lined up as tenants, ensuring a diverse shopping experience for consumers.
Strong Local Consumer Spending
The location is strategically chosen, benefiting from the presence of a busy Walmart across the street, which ranks among the top in customer traffic within the metro area. Increasing traffic volumes and the continuous growth of residential neighborhoods significantly enhance the site's potential, making it an attractive destination for shoppers.
About REALM
REALM is a unique investment group composed of over 100 distinguished individuals, family offices, and foundations dedicated to making direct investments in real estate. An exclusive, invite-only platform, REALM leverages the vast networks and expertise of its members to pursue exceptional investment opportunities.
Proven Investment Track Record
With experience exceeding $6 billion in real estate transactions across different types of properties, REALM's leadership team has successfully navigated various market cycles. The group invests in a wide array of commercial and residential properties throughout dynamic submarkets across the country.
Contact Information
For further information or inquiries, please reach out to:
Brigit Hennaman
VP, Rubenstein Public Relations
Phone: 212-805-3005
Email: bhennaman@rubensteinpr.com
Frequently Asked Questions
What is the Skyline Ranch Marketplace project?
The Skyline Ranch Marketplace is a new retail shopping center being developed by REALM and Pennant Development in San Tan Valley.
Who are the main tenants expected at the Marketplace?
Key tenants will include WinCo Foods, Ulta Beauty, Marshalls, HomeGoods, and more, creating a diverse shopping experience.
Why is San Tan Valley significant for this development?
San Tan Valley is one of the fastest-growing areas in the Phoenix metropolitan region, with a projected population growth and rising incomes.
What retail trends are influencing this project?
The ongoing housing developments and increasing consumer demand in the area are prompting the need for more retail options.
How can I get more information about REALM?
For detailed insights and updates about REALM and its projects, please visit their dedicated website or contact their media representative.
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