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Rayand Ellsworth Project Update 1676x1000

Mesa, AZ

Thompson Thrift Retail Group (TTRG) has closed on the acquisition and construction loan for two commercial pads within Cadence at Gateway. Cadence at Gateway, a vibrant 444-acre master-planned community is located at the southeast corner of Ray and Ellsworth Roads, within the bustling Mesa Gateway corridor.

The two pads are located opposite each other on the north and south sides of Cadence Parkway, the main entrance of this master-planned community. TTRG is planning to build two multi-tenant shop buildings and has executed leases with Point 22 Tavern, Cork Crush Wine Bar & Beer House, NextCare Urgent Care, Athletico Physical Therapy, BoSa Donuts, and Rio Nail Spa, making the project 100% pre-leased upon commencement of construction. TTRG’s anticipates delivering space to these Tenant’s in mid 2022 and having the users open late next year.

“We’re excited to work with Harvard Investments to develop these premium retail pads at the entrance of one of the most popular master-planned communities in Arizona,” said Chris Hake, senior vice president, director of the Southwest region for Thompson Thrift. “We’re proud to be 100 percent pre-leased prior to closing in an area of Mesa that continues to see strong growth as evidenced by the rapid sales of remaining homes at Cadence at Gateway.”

TTRG would like to thank Ed Beeh, Mike Polachek, and Stephanie Davis at SRS Real Estate Partners for their assistance with the acquisition and leasing of this development.