The Shops at Dynamite Creek is proud to announce that renovations are underway and three new tenants have signed leases at the newly acquired center. Scottsdale Development Partners purchased this $10.5 million center in August 2020 during the pandemic when it was 69 percent occupied and in prime position for revitalization. Under the direction of Scottsdale Development Partners company president David Malin, this 69,755 square-foot center is now 83 percent occupied with a $1.5 million renovation almost complete.
Among the center’s new tenants are Loco J’s Tacos and Tequilas, a full-service sit-down Mexican restaurant and bar, OrthoArizona, a physical therapy facility, and REMAX, a residential real estate office.
Malin says Scottsdale Development Partners immediately started planning the renovations once they closed on the property, which include clearing out the natural wash that runs through the center of the property and renovating the exterior walls of the buildings, which were repaired, patched, primed and re-painted with a new color scheme. The shopping center, which is 20 years old, has been re-painted a new white and beige color with black accents. New colored light fixtures were added to the center’s signature water fountain located in between The Creek Patio Grill and Tailgaters. New landscaping and new roof tiles were also just installed.
“Everything you see today and all the renovations that we have completed in the last eight months of ownership is part of our long term vision for the shopping center,” says Malin. “…The shopping center was in need of attention and now it’s great to see the center coming back to life. The Shops at Dynamite Creek is once again a vibrant venue and a center where neighbors and the community can gather for many years to come.”
The leasing velocity has not only picked up, but the existing tenants have noticed the difference.
“It’s amazing the difference we are experiencing having local ownership and local management. Folks in the community are coming out and spending their afternoons and evenings at the center. You can really see the impact first-hand what a huge difference a renovation can have on every business in this center,” says Mike Abraham, owner of The Creek Patio Grill. “We’ve been here for five years running and we are a very successful restaurant but even at our busy restaurant the revitalization efforts have rubbed off, and we just started on a few renovations of our own to both of our patios.”
Malin is negotiating a lease with another sit down restaurant and letters of intent with several other prospective tenants.