Whitestone REIT (NYSE: WSR), a neighborhood-focused owner and operator of open-air shopping centers in Texas and Arizona, announced that it has signed a lease with The Picklr, the world’s fastest-growing operator of indoor pickleball facilities, to open a 20,909-square-foot location at Terravita Marketplace in Scottsdale, Arizona. The strategic addition of The Picklr Cave Creek supports the active and health-conscious lifestyle of the communities the center serves – North Scottsdale, Carefree and Cave Creek – and provides the high number of pickleballers in the area with a state-of-the-art, professional-grade facility to compete, train, and socialize.
Founded in 2021 by Austin Wood and Jorge Barragan, who grew frustrated by the lack of pickleball facilities available and long wait times associated with securing a court, The Picklr has already become the fastest-growing indoor pickleball franchise in North America, with more than 500 locations. All of The Picklr venues feature top-of-the-line courts and lighting to provide the optimal player experience. In 2024, former NFL quarterback Drew Brees was named Brand Ambassador, along with being an investor, as well as Owner/Area Developer of 30 Picklr franchises.
“We pride ourselves on adding value for our shareholders and the neighborhoods we serve by being very strategic and disciplined in our approach to leasing, and The Picklr Cave Creek exhibits many of the characteristics we look for in the tenants we choose to partner with,” stated Dave Holeman, CEO of Whitestone REIT in a statement. “For one, The Picklr is a major all-day traffic driver that is well-regarded for being best-in-class and fostering community engagement. Second, as we have seen from our partnership with The Picklr McKinney at Eldorado Plaza in Dallas, it is a catalyst for contributing to the growth of the surrounding tenants by boosting their sales and increasing the frequency of customer visits. This is a highly respected operation and we are pleased to expand our relationship with them.”
The Picklr Cave Creek will be located next to Ace Hardware and is expected to open to the public in the second half of 2025. The eight-court facility will host league competitions, tournaments, clinics, private lessons, court reservations, rated open-play and charity events, offering pickleballers a dynamic, climate-controlled environment to hone their skillsets without having to battle the dryness and heat associated with Arizona summers. The convenient location of Terravita, surrounded by the neighborhoods of Whispering Rock Estates, Desert Mountain and the Boulders Community, enables pickelballers to play on their preferred schedules, be it early in the morning, during their lunch breaks or after the sun sets.
“Greater Phoenix is made up of active-minded families and individuals who prioritize their own health and well-being, and pickleball has exploded in popularity as a result,” commented Christine Mastandrea, COO of Whitestone. “As such, the limited number of courts currently available simply do not come close to satisfying the needs of the community. By bringing in The Picklr Cave Creek, we are helping to solve some of these supply constraints while also supporting the preferred lifestyle of the market.”
Situated with a 15-minute drive from TSMC’s semiconductor fabrication facility and historic downtown Cave Creek, Terravita offers a diverse range of amenities and services to meet the needs of its discerning clientele. The center is surrounded by the gated golf course residential community of Terravita, and average household income within a 15-minute drive of the property is in excess of $200,000. Among Terravita’s flagship tenants include First Watch, Liberty Station, Wells Fargo and Ace Hardware.
Matt Okmin and Jason Bowles of Whitestone represented the company in the lease process.
