Canyon Trails Towne Center

Project Overview
This 90 acre center includes these anchor & key tenants: Super Target, Ross Dress for Less, Starbucks, Chipotle, Ulta Beauty, Burlington, Pottery Barn Outlet, Planet Fitness, Michaels, and Rack Room Shoes.

Scope
The Canyon Trails Towne Center is strategically located in Goodyear, Arizona, one of the fastest-growing suburbs in the Phoenix metropolitan area. It is positioned at the Intersection of Yuma Road and Cotton Lane (future Loop 303) and intersects with Interstate 10 just north of the center. The first phase of Canyon Trails Towne Center was developed by Vestar, a commercial real estate developer known for their creation of large retail and lifestyle centers in the Western United States. When the Great Recession hit in 2008, the project sat fallow for several years and many of the original anchor tenants closed and the future phases remained undeveloped. Vestar ultimately sold the project to a Dallas-based development company.

Results
SRS was hired by the new ownership group to assist in securing anchor tenants for the vacant spaces, as well as sourcing shop tenants and pads for this partially built power/mixed-use development. SRS assisted ownership in selling the entire mixed-use development to Santa Cruz Seaside Company after leasing all the existing vacant boxes, getting the existing shop buildings to 100% occupancy, and selling seven pads to restaurants and retail users. Santa Cruz Seaside decided to retain SRS to continue locating quality anchors, specialty tenants and restaurants for the balance of the unbuilt site. Currently, there are three new ground-up anchor tenants (Burlington, Ulta Beauty, & Rack Room Shoes) under construction. A new 14,000 SF shop building has been constructed and is almost 100% pre-leased. SRS continues to market the balance of Canyon Trails Towne Center to quality tenants that will cater to the needs of the growing Goodyear suburban population.