Kensington Development Partners, along with IM Properties, have acquired Phase I of a 30-acre infill land parcel in Gilbert, Arizona, for a new development called Signature at SanTan Village. The retail center will sit within the SanTan Village retail, restaurant and entertainment corridor. Early anchor tenant commitments have already 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.
Construction on Signature at SanTan Village Phase I begins immediately. A future Phase II will add approximately 115,000 square feet of retail and restaurants.
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