September 17, 2024 – We are pleased to announce our acquisition of the Park at San Tan, a 19,888 square foot, three-building essential service retail (ESR) shopping center in Phoenix, AZ. The Property is located at the southwest corner of the Loop 101 and Ray Road in the affluent Chandler submarket. This transaction is CenterSquare’s 43rd essential service retail acquisition nationally and fifth shopping center in the Phoenix metropolitan area.
The Park at San Tan, originally built in 2007, is currently 89% occupied. It experiences approximately 46,800 VPD and the 3-mile trade area boasts a population of approximately 120,000 with an average household income of more than $128,000. The tenant roster includes national operators Firehouse Subs and Yogi’s Grill, in addition to several long-term local tenants. This investment aligns with our strategy to target unanchored, high quality essential service retail centers in strong demographic submarkets.
