Thompson Thrift Breaks Ground on South Tempe Square Near Phoenix

PHOENIX, Aug. 11, 2025 /PRNewswire/ -- Thompson Thrift, a full-service nationally recognized real estate company, announced today that construction is underway on South Tempe Square, a 27,000-square-foot neighborhood shopping center in the heart of Tempe.

"The city of Tempe has been a great partner as we've worked to thoughtfully develop South Tempe Square," said Dan Sink, president and chief financial officer of Thompson Thrift Development. "We're committed to creating well-designed and intentional projects that serve the needs of the community, and we believe South Tempe Square will be a valuable addition for local residents and the broader Tempe area."

Located at the northwest corner of Rural Road and Warner Road, South Tempe Square sits at a high-traffic intersection with convenient access points along both major roads. The shopping center is advantageously positioned between Loop 101 and I-10 and has great exposure from a number of nearby national credit tenants, including CVS, Sprouts and Home Depot. The neighborhood also boasts one of the top school districts in the state, making it a highly desirable location for families.

"Leasing activity has been strong, and we're excited to deliver a well-rounded mix of retailers, restaurants and service providers that reflect the needs and energy of this growing neighborhood," said Ashlee Boyd, managing partner for Thompson Thrift Commercial.

Thompson Thrift has signed leases or is in negotiations on nearly 75% of the retail space. BURN Total Body Conditioning, Pacific Dental, Look Lab, Luna Grill Restaurant, The Slice House by Tony Gemignani and GoodVets have already signed leases. A 4,500-square-foot restaurant pad remains available as well as two inline spaces that are ideal for retail or service providers.

Tempe is a diverse and culturally rich community known for its warm weather, breathtaking natural beauty and numerous recreational opportunities. It is home to the main campus of Arizona State University, whose 55,000 students make it the largest university in the United States. Desert Financial Arena, located on the ASU campus, has the capacity for 14,000 visitors and hosts multiple events throughout the year, drawing additional tourism to the area.

Since its founding nearly 40 years ago, Thompson Thrift has invested more than $6 billion into local communities and has become known as a trusted partner committed to developing high-quality, attractive multifamily communities and commercial projects across the Midwest, Southeast and Southwest.

Thompson Thrift remains highly active across Arizona with several notable developments underway. Key projects like Elliot Tech Center in Mesa, Germann Commerce Center in Queen Creek, South Bridge Marketplace in Maricopa, Pointe17 and Refinery at Pointe17 in Phoenix, The Maddox in Buckeye, Stella in San Tan Valley, and The Gilmore in Gilbert highlight the company's continued investment in high-growth markets and its focus on delivering quality developments throughout the state.

About Thompson Thrift Real Estate Company
Since its founding in 1986, Thompson Thrift has grown from a locally focused development and construction company into a full-service, integrated enterprise with a national scope. From its offices in Indianapolis and Terre Haute, Indiana; Denver; Houston; and Phoenix the company is engaged in all aspects of development, construction, leasing and management of quality multifamily and commercial projects. The company earned national recognition as a winner of a 2025 Top Workplaces USA award, the latest accolade that reflects the company's ongoing commitment to excellence in the community and workplace. For more information, please visit www.thompsonthrift.com.

Contact:
Jennifer Franklin
Spotlight Marketing Communications
949.427.1385
[email protected]

SOURCE Thompson Thrift