"It's a brand-new building and yet another great location in North Mesa," Tom Woods, a senior vice president of marketing at Colliers International's Phoenix office, tells GlobeSt.com. Located on the southeast corner of McKellips Road and Greenfield Road, the new store will be attached to the center's anchor Wal-Mart Supercenter. Final preparations are being made to the interior, with a grand opening slated for later this month.

WM Grace Development Co. of Phoenix has developed the 311,587-sf Falcon Gateway. Shop space ranges from 3,834 sf to 15,920 sf inline and pads of 5,000 sf and 7,000 sf. Rents are about $25.70 per sf for non-anchor space.

Daily traffic past Falcon Gateway totals approximately 82,000 vehicles. Woods characterized North Mesa as an excellent submarket for new retail opportunities, witha surrounding population of about 190,000 people and an average annual household income of just north of $48,000. Woods represented Payless while WM Grace Development used in-house brokers to seal the deal.