Developers acquire 30-acre parcel for major Gilbert retail center
Oak Brook, Illinois-based Kensington Development Partners, along with IM Properties, have acquired Phase I of a prime 30-acre infill land parcel in Gilbert for an upscale development called Signature at SanTan Village.
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The high-end retail center will sit within the SanTan Village retail, restaurant and entertainment corridor. Early anchor tenant commitments already have been secured by Whole Foods Market and a Dick’s Sporting Goods House of Sport.
When all 30 acres are developed, Signature at SanTan Village will host approximately 300,000 square feet of retail, grocery, restaurant and entertainment on the northwest quadrant of Santan Village Parkway and Williams Field Road, directly west of the SanTan Village regional mall.
Signature at SanTan Village will be developed in joint venture partnership with long-time Arizona landowners and developers, SanTan Development Group, with an approximate project cost of $145 million.
Western Retail Advisors and Phoenix Commercial Advisors support the ongoing leasing activity at the development.