Scottsdale developer acquires SanTan Valley retail center, plans major expansion

Article originally posted on Phoenix Business Journal on May 20, 2025

After a delay of more than 10 years, a Scottsdale developer has secured a Southeast Valley retail center with plans to fill out the rest of its commercial space.

Pennant Development LLC along with Realm LP acquired the remaining parcels of Skyline Ranch Marketplace in SanTan Valley for $10 million from WinCo Foods on May 14, The Scottsdale-based development firm and SRS’ Phoenix officeconfirmed the acquisition to the Business Journal.

“This project was initiated over a decade ago by other parties, and we’re thrilled to see it finally come to fruition,” SRS Executive Vice President and Managing Principal Ed Beeh said in a statement. “Both WinCo and Pennant had the vision to bring a high-quality retail development to this underserved trade area.”

About 31 acres and 225,000 square feet in size, the Skyline Ranch Marketplace, at N. Gary Road and W. Hunt Highway in SanTan Valley, will begin construction in July. Pennant Development Principal Gordon Keig anticipates retailers will be opening up by spring of 2026.

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