By Jenna-Lee Neff
Indianapolis-based Thompson Thrift Retail Group recently announced the sale of Sunrise Promenade shopping center for $18.25 million. Thompson Thrift hadn’t publicly confirmed the buyer as of press time but, according to a recent article in The Phoenix Business Journal, “The buyer was Pleasant Parkway SEC LLC, which is connected to John Simon, CEO of SimonMed Imaging, according to Tempe-based Vizzda LLC real estate database.”
Sunrise Promenade, located on southeast corner of Lake Pleasant Parkway and Happy Valley Road, features 26,852 square feet of multi-tenanted space with the international supermarket chain Aldi as one of the anchor stores. Other national, region and local retailers and restaurants include Black Rock Coffee Bar, Sherwin-Williams, StretchLab, Pearle Vision, and several others.
“We were able to command an impressive sales price based on the property’s excellent positioning in the market and synergy from our neighboring multifamily community,” says Chris Hake, senior vice president, director of the Southwest region of Thompson Thrift.
Sunrise Promenade is the retail component of a master-planned development that includes Grandstone at Sunrise, a new luxury-leased villa-style community that was announced in February 2021 and is currently under construction by Thompson Thrift’s multifamily business unit. Thompson Thrift broke ground on the Sunrise Promenade development in 2019.
Thompson Thrift Retail Group is a full-service real estate development company focused on ground-up commercial and mixed-use development across the Midwest, Southeast and Southwest. The company is well-established in Arizona with several retail and multifamily properties throughout the state, including over $350 million in projects under construction and under contract across the Phoenix metro area, including projects in Glendale, Phoenix, Tempe, Mesa, Tucson, Casa Grande, and Peoria.
While the complex was just sold, new tenants are still moving in and setting up shop.
Twisted Sugar is a specialty soda and cookie shop that was started in Utah and has grown to have franchise locations in Nevada, Arizona, and more. Their award-winning cookies come in more than 20 unique flavors that are made fresh in-store daily. The Sunrise Promenade location is one of a handful of locations that opened in the Valley in 2021, with the website listing more planned openings for 2022. Twisted Sugar opened in November. For more information, visit heytwistedsugar.com. For the latest updates and location openings, follow Twisted Sugar on Facebook, Instagram, and Twitter @heytwistedsugar.
Twin Tails Cageless Grooming
Twin Tails Cageless Grooming provides a non-traditional grooming experience for four-legged family members. According to the website, pets are groomed immediately upon arrival, in an open concept that allows owners to see every step of the grooming process. Their three existing locations are cage-free, with groomers only working on one pet at a time. Twin Tails Cageless Grooming is expected to open this month. For more information on services, visit cagelessgrooming.com. Follow along on Facebook and Instagram @cagelessgroomingaz.
Butta Cakes is a locally owned and operated gourmet butter cake company with more than thirty flavors of mini cakes. Flavors include chocolate chip, carrot cake, cinnamon roll, red velvet and more. Co-owners Perry Hilton and Amanda Folino started experimenting with different flavors in their kitchen before opening a location in Scottsdale. “Perry is very big on making people smile,” says Folino. “We’re very excited to bring it to the Sunrise Promenade.”
Butta Cakes is expected to open in early 2022. For more information, visit buttacakes.com. Follow along on Facebook @buttacakes and Instagram @butta.cakes for the latest updates and information.
Jenna-Lee Neff is a freelance journalist, digital audience analyst, and public relations professional. Learn more about her work at jennaleeneff.com.