Chandler Ranch, totaling 117,565 square feet, is 97% leased, a milestone reached within 30 months of the Houston-based developer's acquisition of the property—a one-time struggling center that has been infused with $10 million of capital improvements and retenanting. The center at 1760 W. Chandler Blvd. is anchored by 99 Ranch Market, the California-based Asian grocery chain's first store in Arizona.
Permitting and construction are underway for Daiso, Gen Korean BBQ House, The Kickin' Crab, 85° C Bakery Café and Somisomi Soft Serve. Openings are anticipated to start in the fall and continue through year's end, according to the developer.
"We are grateful to Chandler's economic development team for helping our tenants, who overwhelmingly are new to Arizona, navigate the process," said Naoyuki Kondo, leasing specialist in Houston-based NewQuest's Asia-Pacific Retail Group, in the release. "As a result, construction is running smoothly across the board."
NewQuest is establishing Chandler Ranch as a dining and shopping destination, leaning on its longtime relationships in the Pan-Asian retail and restaurant sectors to accomplish its mission. The majority of tenants, though new to Arizona, are well established West Coast brands, according to the release.
"It is wonderful to see so many Asian shops and restaurants select the revitalized Chandler Ranch for their first location in our region," Mayor Kevin Hartke said. "I think it is a testament to Chandler's diversity and appreciation for global cultures. These new offerings will provide a welcome taste of home for some of our residents and exciting experiences for many others."