Westwood Financial Corp. (WFC), one of the largest privately held owner-operators of grocery-anchored retail properties in the United States, has announced that Smart & Final Extra has now opened as the new anchor tenant at WFC’s Pueblo Point shopping center in Phoenix at 13823 N. Tatum Blvd.
“Because the Phoenix market is on an upward trajectory, many national and regional retailers are targeting this region and absorbing existing space,” said Kenneth Loughran, senior vice president of Westwood Financial Corp. “Smart & Final is one such retailer that is taking advantage of this upswing. The addition of Smart & Final Extra to an already strong list of regional and national tenants which includes Scottsdale Healthcare, Ace Hardware, Edward Jones, Domino’s Pizza and UPS, cements Pueblo Point as a dominant grocery-anchored shopping center in the trade area.”
Centrally located near Paradise Valley Mall, the 54,400-square-foot Pueblo Point is 95 percent leased and serves the surrounding area of North Phoenix, including affluent Scottsdale neighborhoods, which boasts a population of 112,584 with an average household income of $84,139. Additional tenants include Ace Hardware, The UPS Store, Edward Jones and Domino’s Pizza.
Smart & Final Extra, which specializes in value-oriented food and everyday staples, now fills the 28,200-square-foot space with a 15-year lease. This lease marks the second of three stores Smart & Final has opened in the Phoenix market since March, with another store opening planned for June. First introduced in California, the “Extra” stores concept differs from the original Smart & Final store, bringing shoppers a larger selection of fresh produce, meat, groceries, frozen foods and deli selections.
“We are excited to be serving the East Valley and surrounding areas with our new Pueblo Point Smart & Final Extra,” said Pat Barber, vice president of real estate at Smart & Final. “Pueblo Point’s existing tenant base and prime location provided an ideal opportunity for us to bring our newest store concept to local consumers.”