SCOTTSDALE, AZ — The revamped Papago Plaza is inching closer to its first wave of tenants setting up shop.
The south Scottsdale mixed-use center won't be finished completely until mid-2024, but the first restaurant and retail tenants are on track to move in by next summer, said Lee Mashburn, president of Pivot Development. Wells Fargo & Co., Peak Nutrition and Panda Nails have signed leases thus far at the center located at 1408 N. Scottsdale Road. Mashburn said with lease and letter of intent commitments, the total space is about 80% spoken for.
One of the tenants Pivot wants for the center is Sprouts Farmers Market Inc. (Nasdaq: SFM), which Pivot is working on a deal with, Mashburn said.
In addition to its negotiations with Sprouts, Pivot is talking with breakfast, juice and burger concepts as well as a Greek restaurant to fill out the space.
A grocer, along with a 192-space, two-story parking garage above it, is expected to be complete in the second quarter of 2024. Papago Plaza will have 152 spaces of surface parking.