2 years ago
De Rito Partners to Build New Retail Center in Chandler, Arizona PHOENIX, AZ, March 2, 2015 – De Rito Land Development LLC, a company formed by De Rito Partners in Phoenix (Marty De Rito, Jerry Friedman, Doug Himmelberger, Principals) in partnership with Van Tuyl Group has gained Chandler City Council approval for the zoning and design of a Fry’s Marketplace Store, which will anchor a neighborhood commercial retail center on land at the southwest corner of Gilbert & Ocotillo roads. The 31 acre land purchase for $8.6 million is set to close in 2015. De Rito Partners plans to spend over $22.0 million on developing the center to be called Artesian Marketplace. Phoenix architect Irwin Pasternack is working on design plans for for the new center that will consist of approximately 193,190 total square feet and will be anchored by a 123,000 square foot Fry’s Marketplace. It is anticipated to open in 2016 and will be leased by De Rito Partners. “We are excited to be working on this new premier retail destination and to once again partner with Fry’s Food Stores. We have developed 22 retail properties including a major renovation of The Pavilions at Talking Stick by securing dominant retail tenants for our projects. We are happy to be a significant part of the fast growing Chandler opportunities in Arizona. ” said Marty De Rito, CEO of De Rito Partners. Visit derito.com or for leasing call 480-834-8500. About De Rito Partners Platform De Rito Partners is structured into five entities. Established in 1992, De Rito Partners, Inc. has grown to become one of the largest brokerage firms in Arizona specializing in retail. The company offers full-service retail brokerage operations, property leasing, sales and tenant representation. The company has 30 seasoned brokers exclusively representing more than 200 shopping center owners and 60 national and local retailers. The company is also the exclusive Arizona member of Retail Brokers Network, a national real estate powerhouse composed of the foremost retail brokerage firms in the U.S. De Rito Partners Development, Inc. specializes in the development and redevelopment of select retail and mixed-use properties. Currently redeveloping 1.1 million square feet at The Pavilions at Talking Stick (formerly Scottsdale Pavilions), the company creates retail environments for shoppers, merchants, communities and investors, and has developed 20 first-class retail and auto properties totaling more than 5 million square feet throughout the Greater Phoenix area. De Rito Property Management, LLC offers premier-quality property management services for retail properties of any size. Currently managing 35 properties totalling over 1,853,380 million square feet. De Rito Opportunity Investors, LLC has recently purchased 44 retail assets, with plans to purchase 5 more this year in Arizona and Nevada and offers individually tailored retail property solutions, specializing in acquisitions of value-added and stable assets. De Rito Land Development, LLC specializes in ground-up grocery anchored and other commercial neighborhood shopping centers. The company website is www.derito.com.
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