With its large farmers market-style produce section in the center of the store, aisles of healthy bulk items, spices and unique foods, the Sprouts grocery store has become a popular spot for Maricopa shoppers.
Opened in 2021, the specialty grocery store serves as the anchor tenant in Sonoran Creek Marketplace, a nearly 14-acre commercial retail development at 20300 N. John Wayne Parkway built by real estate development company Thompson Thrift.
With more businesses, including stores and restaurants, set to open soon, Sonoran Creek Marketplace is already thriving. And on June 1, Thompson Thrift announced it has sold the 75,000-square-foot shopping center to a private buyer from the Pacific Northwest.
The sale amount for the property was undisclosed.
“Sonoran Creek Marketplace is a development our entire team is very proud of,” Chris Hake, senior vice president and director of the Southwest Region for Thompson Thrift Commercial, said in a press release. “We started this development in the early stages of the pandemic, and today’s closing is the culmination of years of hard work put in by our internal team, various consultants and Phoenix Commercial Advisors."
The Sprouts grocery store was part of the initial phase of the shopping center opening in 2021. Another tenant in the initial phase is Cold Beer & Cheeseburgers, which is expected to open soon.
MOD Pizza, Pet Planet and Crumbl Cookies are also in the initial phase and are expected to open soon.
The second phase is currently under construction and will add Marshalls, NextCare Urgent Care and Thai Chili to the center, according to the press release.
Construction of the complex is still ongoing and Thompson Thrift will continue to manage the property until it is completed later this year.
Maricopa residents likely won't notice the change in ownership as the transition isn't expected to impact the day-to-day running of the complex's businesses.
The property's new owner was represented in the sale by Trent Rustan of Commercial Properties.
Thompson Thrift worked with Phoenix Commercial Advisors on the acquisition, leasing and disposition of the property, the press release said.
Sonoran Creek Marketplace was Thompson Thrift's first development in Maricopa.
The full-service real estate development company focuses on ground-up commercial and mixed-use development in 20 states across the Midwest, Southeast and Southwest.
The company pays special attention to underserved markets, aiming to bring unique grocery-anchored retail and mixed-use developments to communities, according to its website.
"We look in markets with impressive demographics, high demand for quality retail options, visibility, and accessibility — just a few of our stringent criteria assessment to determine project viability," the company's website said.
As well as commercial properties, Thompson Thrift also develops upscale apartment complexes and luxury leased homes across the country.
The company has several commercial and residential properties throughout Arizona, including some in Phoenix, Tempe, Glendale, Mesa, Peoria and Tucson.
"Since its founding more than 30 years ago, Thompson Thrift has invested more than $3.7 billion into local communities and has become known as a trusted partner committed to developing high-quality, attractive projects," the press release said.
The company is actively looking at additional opportunities in Maricopa to add to its $750 million pipeline of development projects across the Phoenix metro area, according to the press release.
"A special thank you also goes out to Maricopa’s mayor, city manager and city council, who were integral to helping bring this project to fruition," Hake said.