$1.7-Mil Land Sale Triggers Tramonto's First Retail Project

PHOENIX-Two years of hard work come to fruition as 5.5 acres are sold to Albertsons Inc. of Tolleson, AZ, to anchor for the first retail development for the 1,000-acre, master-planned community of Tramonto.

Phoenix-based Denro Commercial is planning an early 2002 ground-breaking and October 2002 delivery on the neighborhood center, which calls for a 55,000-sf Albertsons/Osco and 40,000 sf of inline space. But that’s just the tip of the proverbial iceberg: Denro also controls a 40-acre tract right across the road, earmarked for a power center.

“We’ve been working on this two years and it’s finally come to fruition,” Dave Newquist, a senior vice president for CB Richard Ellis Inc.’s Phoenix office, tells GlobeSt.com. “We’re now ready to move on.”