Western Retail Advisors Will Bring Whole Foods to the Heart of Scottsdale

Fifth metro Phoenix Whole Foods to locate at Downtown East Shopping Center

SCOTTSDALE, ARIZONA, April 30, 2024 – On behalf of Miller Plaza LLC, Phoenix-based retail brokerage specialist Western Retail Advisors has completed a 35,222-square-foot lease that will bring a new Whole Foods store to Downtown East Shopping Center, located at Indian School and Miller roads in the heart of Scottsdale. The store will become the fifth metro Phoenix location for Whole Foods, a leading natural and organic foods retailer.

Downtown East is located at 7628 E. Indian School Rd., minutes from historic Old Town Scottsdale and the upscale Scottsdale Fashion Square. The 93,000-square-foot center is presently 75% leased. Western Retail Advisors is currently working with several national tenants to take 16,000 square feet adjacent to Whole Foods, with those lease announcements expected soon.

“The demographics of Old Town Scottsdale and its surrounding submarkets are exceptional, and they continue to improve,” said Jakosky Properties President, Jack Jakosky. “Tenants have recognized this and, as a result, are actively competing for opportunities to locate here. We are thrilled to welcome Whole Foods and expect to have more announcements like this over the next few months.”

Whole Foods will replace an existing Fry’s Food Store, which has leased 50,000 square feet at the center for the past 48 years. This creates space for a second national tenant at Downtown East, further activating and modernizing the shopping center. An exterior renovation of this free-standing building will commence during the second half of 2024.

Western Retail Advisors Founding Partner Eric Termansen and Partner Neil Board represented Whole Foods in the lease negotiations. Ryan Desmond and Rachel Bliss of Western Retail Advisors are the center’s new listing brokers and will actively pursue shop tenants and creative office users for the remaining 8,900 square feet of vacant space.

“This trade area has experienced a rapid increase in high-end residential density,” said Termansen. “As each new luxury vertical residential project comes online, demand rises for top-notch prepared foods, restaurants and specialty retailers. The Whole Foods at Downtown East will serve this growing demographic and give shoppers from Scottsdale, Paradise Valley, Arcadia and other nearby communities a more convenient way to access the Whole Foods brand.”

Austin-based Whole Foods operates more than 530 stores across the U.S., Canada and the U.K. This includes ten stores in Arizona – four of which are located in metro Phoenix (Tempe, Chandler, the Camelback Corridor and Paradise Valley).

The Downtown East Whole Foods will become the fifth metro Phoenix Whole Foods location, offering full-service seafood and meat counters, a specialty cheese department, premier prepared foods and bakery, Whole Body wellness department, and a curated grocery department including a range of certified organic and locally sourced options. It will also feature an extensive selection of beer and wine, and an in-store beer and wine bar.

A grand opening date for the new Downtown East Whole Foods store is forthcoming.

For more information on Downtown East leasing, contact Desmond and Bliss at (602) 778-3747.

Western Retail Advisors Sells Avenue at Olive Park in Glendale, AZ for $5.5M

Western Retail Advisors Sells High-End 83 Marketplace in Peoria, AZ for $11.1M

Newly built neighborhood center is home to premier restaurant, retail with an available Phase 2

PEORIA, ARIZONA, April 8, 2024 – Phoenix-based retail brokerage specialist Western Retail Advisors has completed the $11.1 million sale of 83 Marketplace. The newly built, Class A retail center was developed by Scottsdale-based Cavan Companies. It spans three buildings at the prominent corner of 83rd Avenue and Happy Valley Road in Peoria, Arizona.

The property buyer is a franchisee of Hawaii-based Seven Brothers Burgers, who will locate a Seven Brothers restaurant concept on the hard corner of the center. Seven Brothers joins a cadre of existing high-end tenants at 83 Marketplace including Bourbon & Bones, The Stetson Social, F45 Training, Herbal Nail Bar, Salon Blissful and Heartland Dental.

Western Retail Advisors brokers Brian Gausden and Jake McClaughry represented the Cavan Companies in the sale. Scott Johnson of Omni Commercial represented the property buyer.

“This sale perfectly reflects today’s metro Phoenix retail market trends,” said McClaughry. “It is home to a roster of premiere national tenants who are vying for space in the Valley, and a location with superior demographics that continue to improve, thanks to our steady influx of new residents. The combination has proven highly successful for 83 Marketplace.”

Totaling 19,800 square feet, 83 Marketplace offers pedestrian-oriented retail and restaurant spaces with a contemporary design, abundant canopies and patio dining with views of the adjacent Sunrise Mountain Preserve.

The property benefits from more than 6,000 rooftops within a five-mile radius, with a projected area growth rate of up to 5.5% annually. It is seen by approximately 31,000 cars per day traveling along Happy Valley Road.

Western Retail Advisors is also marketing a Phase 2 parcel for the project. The 4.27-acre site sits immediately east of the three completed Phase 1 buildings. It has a listing price of $4.75 million and is shovel-ready with infrastructure, utilities and drive aisle complete. Building plans for a 11,519-square-foot Building 4 and a 10,195-square-foot Building 5 are approved through the City of Peoria.

For more information, contact Gausden or McClaughry at (602) 778-3747.