This transaction marks another milestone in a long-standing and meaningful relationship with TSM Ventures, a trusted client and valued partner in the Phoenix market.

The history of San Tan Village is deeply connected to PCA. The team was first engaged with the property in 2012, when the center—then in receivership with 68% occupancy—was sold to DeRito Partners for $9.8 million. Just two years later, PCA once again facilitated the sale of the now fully leased property to TSM Ventures, marking the beginning of an enduring partnership. The PCA leasing team, including Courtney Auther Van Loo, was involved in leasing up the property.

Over the last eleven years, TSM Ventures has been a steadfast steward of San Tan Village. They have successfully navigated market downturns, maintained exceptional occupancy, and achieved remarkable rent growth, ensuring the property remained a vital retail destination. Beyond this single project, TSM Ventures has expanded their footprint in the Phoenix MSA with six retail acquisitions, all handled by PCA and each one a testament to their vision and commitment to long-term success.

“Representing TSM Ventures on both acquisitions and now the off-market disposition of San Tan Village has been an honor,” said Steven Underwood. “Our business can be challenging, but when we are given the privilege of serving such a remarkable client, it makes all the challenges worthwhile.”

PCA extends its deepest gratitude to TSM Ventures for their trust, collaboration, and partnership over the years. This transaction not only celebrates the success of San Tan Village but also underscores the enduring relationships that define PCA’s work and culture.