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REIT Developing 73,000-SF Retail Project in Surprise

SURPRISE, AZ-Wanting to participate in the fast-growing western Phoenix retail market, Donahue Schriber has targeted $8 million to develop Greenway Marketplace, a neighborhood shopping center. Ground breaks in the spring.

By Amy Wolff Sorter | Updated on September 29, 2005

(For more retail coverage, click GlobeSt.com/RETAIL.)

SURPRISE, AZ-Donahue Schriber Inc. is joining the action in the fast-growing Phoenix suburb of Surprise with an announced groundbreaking for Greenway Marketplace, a 73,000-sf neighborhood shopping center. The estimated $8-million project will be completed during the fourth quarter 2006.

Charlie Hickcox, vice president of development for the Costa Mesa, CA-based REIT, says the development at the corner of Reems and Greenway roads isn’t scheduled to break ground until spring 2006. “We’re already about 50% preleased at this time,” he says. The tenant list includes a grocery store, on its own site. “We bought 9.5 acres of the land. They’ll purchase four,” he tells GlobeSt.com.

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