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With a Year to Go, Mall's Already 50% Leased

PHOENIX-Strong rental activity in Village at Desert Ridge project shows that the local retail market is still red-hot.

By D.J. Burrough | Updated on August 16, 2000

PHOENIX-A $100-million retail mall that won’t be open for another year already has reached half occupancy, a sure signal that the retail market in Phoenix is hotter than ever.

Nine leases have been signed at The Village at Desert Ridge, a 350,000-sf, open-air retail center that’s under construction at the northeast corner of Loop 101 Freeway and Tatum Boulevard. The leases total nearly 130,000 sf, according to CB Richard Ellis, the project’s exclusive listing agent.

Some of the tenants to sign on at The Village at Desert Ridge include: Jillian’s, a Louisville, Ky.-based entertainment company, 63,000 sf; California Pizza Kitchen, 5,000 sf; Mimi’s Café, 6,500 sf; El Paso BBQ, 7,200 sf; Island restaurant; 5,600 sf; Rubio’s Baja Grill, 2,000 sf; Ultimate Electronics, 34,300 sf; and Ben & Jerry’s Ice Cream, 800 sf.

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