Indianapolis-based Thompson Thrift Retail Group recently closed on a large infill site in the Phoenix area for a proposed $150 million mixed-use development.
Thompson Thrift, a firm that's developing multiple retail projects across the Valley, purchased more than 50 acres in September for $9.3 million from an entity tracing to Sheely Farms, real estate database Vizzda shows.
The property is located at the northeast corner of 99th Avenue and McDowell Road along Loop 101 in Phoenix's Maryvale Village just north of Interstate 10.
On about 21 acres of the property, Thompson Thriftsaid it is working on final site plan approval for a mixed-use development with luxury apartments and a 65,000-square-foot shopping center with a grocery anchor. The company said it expects to break ground on the project in the summer of 2023.
