Thompson Thrift Retail Group (TTRG), a wholly-owned company of Indianapolis-based Thompson Thrift, announced Thursday the acquisition of the first parcel of a 15-acre master-planned development in Mesa.
When fully built out, the development located at the northwest quadrant of US 60 and Signal Butte Road, will feature approximately 95,000 square feet of retail space set among a series of freestanding and multi-tenanted buildings. Developers have named the project “60 & Signal” on marketing materials.
Whataburger, Backyard Taco, Black Rock Coffee, and EOS Fitness have already committed to the site, which TTRG is targeting to open the first phase of the development in the first quarter of 2022.
When all phases of the project are complete, TTRG expects the development to have a total project cost in excess of $28 million.
“We are excited to work with the City of Mesa to develop this strategic piece of real estate just off the US 60,” Chris Hake, senior vice president, director of the Southwest region for Thompson Thrift, said in Thursday’s announcement. “The East Mesa area continues to see strong growth as evidenced by the more than 800 recently announced residential units that will surround the site. We look forward to adding additional best-in-class retailers to this project.”
This is the 26th project for Thompson Thrift Retail Group in the Southwest since opening a Phoenix office in 2016. In addition to the Mesa development, TTRG’s 2021 Southwest pipeline is projected to include over $150 million in volume across the Phoenix metro, including planned projects in Glendale, Gilbert, Tempe, Peoria, Maricopa, Tucson, Casa Grande and Peoria.
