Thompson Thrift Retail Group has begun construction on the first phase of Sunrise Promenade, an 8.5-acre retail project located just south of the southeast corner of Lake Pleasant and Happy Valley.
“We have been working diligently over the last two years with the city of Peoria and surrounding community to create a first-class retail project that includes a blend of local, regional and national retailers and restaurants,” said Chris Hake, senior vice president for TTRG.
Phase I of the project will consist of approximately 20,000 square feet of retail space plus a 22,000-square-foot Aldi grocery store, which closed on the acquisition of a parcel earlier this month. Aldi will join retailers such as Black Rock Coffee, Sherwin Williams, Jabz Boxing and BurgerIM during the first phase.
Phase II will accommodate up to an additional 45,000 square feet of retail space and be jointly marketed by Tyson Switzenberg and Tim Hurley of Jones Lang LaSalle on behalf of TTRG.
In addition to the retail portion of the project, Watermark Residential, the multi-family division of Thompson Thrift, plans to develop a luxury apartment community consisting of approximately 140 Class A units on 10 acres directly east of the retail portion of the project. The Watermark community will have an emphasis on pedestrian connectivity to the commercial portion of the project.