#United States #San Tan Valley #Skyline Ranch #Pennant Development #REALM

REALM and Pennant Development's Investment in San Tan Valley

In a significant move for the local retail landscape, REALM has partnered with Pennant Development to acquire the expansive Skyline Ranch Marketplace, a 31-acre site located in the rapidly expanding San Tan Valley, Arizona. This acquisition aims to transform the area with the development of a 165,500 square-foot shopping center designed to meet the demands of the local community and capitalize on the region’s burgeoning population.

San Tan Valley's Rapid Growth

The San Tan Valley is recognized as one of the fastest-growing submarkets in the Phoenix metropolitan area (MSA). Recent forecasts suggest that the local population could surpass 110,000 by 2025, with an impressive growth rate of approximately 2.6% annually. Factors such as ongoing housing developments and an increase in household income, which averages over $84,700 in the trade area, contribute to the area’s attractiveness to retail businesses. This creates an exceptional opportunity in an underserved retail market within the Southeast Valley.

A Strong Retail Vision

Travis King, the Founder and CEO of REALM, expressed excitement about the collaboration with Pennant Development, emphasizing their confidence in the sustained growth of both Phoenix and San Tan Valley. The project is anchored by a newly established WinCo Foods, which is projected to open its doors in 2025. Additionally, several well-known retailers currently operate in the area, including The Home Depot, Panda Express, and Freddy's Frozen Custard & Steakburgers.

Moreover, agreements have already been established with prominent national tenants like Ulta Beauty, Marshalls, HomeGoods, PetSmart, and Five Below. As the project unfolds, multiple construction phases will see the introduction of junior anchor tenants, with the overall completion of the shopping center targeted for 2027.

Key Features of the Shopping Center

The design and layout of the Skyline Ranch Marketplace are structured to accommodate the growing demand for retail options, leveraging its location near an established Walmart store that ranks among the top 10 for customer volume in the Phoenix metro area. This positioning, combined with rising traffic volumes and expanding residential neighborhoods, optimizes the project's potential success.

The strategic development plan reflects an understanding of current consumer spending trends while ensuring a diverse retail mix. By incorporating various retail outlets catering to different customer needs, REALM and Pennant Development aim to create a shopping destination that enhances the quality of life for San Tan Valley residents.

About REALM

REALM is an exclusive investment collective consisting of over 100 ultra-high-net-worth individuals, family offices, and foundations, all dedicated to direct real estate investment. Formed with an invite-only approach, REALM harnesses the collective expertise and capital of its members to pinpoint and execute exceptional real estate investments that promise superior risk-adjusted returns. With a rich history of over $6 billion in real estate transactions across various property types and investment cycles, REALM has demonstrated considerable success in the sector.

As REALM and Pennant Development move forward with the Skyline Ranch Marketplace, they not only contribute to the local economy but also position themselves as key players in Arizona’s real estate development arena. The collaboration symbolizes a strategic approach to enhancing community access to essential retail services while capitalizing on the local growth trajectory.