Chandler strip mall turning into food mecca SanTan Sun News

Chandler strip mall turning into food mecca

May 14th, 2021 STSN Staff
Chandler strip mall turning into food mecca
Business
2

SANTAN SUN NEWS STAFF

A major Asian supermarket chain based in California with 51 locations in eight other states has picked a renovated Chandler strip mall for its entry into Arizona.

99 Ranch is anchoring the former Anderson Fiesta Shopping Center at 1760 W. Chandler Blvd., which was purchased by NewQuest Properties in October 2019 with an eye toward converting it into a foreign food mecca.

99 Ranch Market, also known as Tawa Supermarket, was established in 1984 by Roger Chen, a Taiwanese immigrant who felt there was a cultural gap in the typical American supermarket.

“Our company slogan, ‘For 100, we try harder’ demonstrates our commitment to always provide the best products and services to the communities we serve,” it states on its website. “Ranch Market represents freshness and symbolizes our promise to deliver the freshest products.”

NewQuest’s Asia-Pacific Retail Group also has landed Kura Revolving Sushi Bar, Meet Fresh and Uncle Lee’s Kitchen for the 117,565-square-foot plaza and has pre-leased 87 percent of Class A retail – a 52 percent gain since it bought the mall.

“There are a lot of West Coast restaurateurs and retailers looking to expand to Arizona. Until now, they hadn’t found the right opportunity or product,” said Naoyuki Kondo, leasing specialist in NewQuest’s Asia-Pacific Retail Group.

NewQuest said it has invested about $10 million into the shopping center’s makeover, including the addition of well-designed outdoor gathering spaces for the post-COVID era, new facades, lighting and signage. 99 Ranch will open in late May, backfilling a 44,442-sf former Basha’s store.

Kura Revolving Sushi Bar and Uncle Lee’s Kitchen have leased 3,311 square feet and 1,466 square feet, respectively. Meet Fresh has roped off 2,400 square feet.

All three will open later this year.

David Uhles of Western Retail Advisors represented Kura’s while the other two leases resulted from direct negotiations with NewQuest’s specialized leasing group.

Chandler Ranch also will be home to the second Ramen Hood in the state, which will occupy another 2,791 square feet.

“The redesigned Chandler Ranch is emerging as an epicurean collection of Asian, Mexican, Mediterranean and American cuisines,” a spokeswoman said, noting some restaurants were longtime tenants when NewQuest acquired the 14.5-acre property.

“We envision Chandler Ranch will be a culinary destination that people will gravitate towards to experience a fun food adventure,” said Heather Nguyen, development partner of NewQuest Properties and leader of the Asia-Pacific Retail Group.

NewQuest is modeling Chandler Ranch after three Asian-focused retail projects in its portfolio – Carrollton Town Center and Frisco Ranch in North Texas and Katy Grand in west Houston.

“Market studies show Chandler, often deemed the Silicon Valley of Arizona, was a strong candidate for the firm’s niche concept because it boasts the highest Asian growth in the state,” a spokeswoman said.

“We’ve had to educate potential tenants about the strong Asian growth. They didn’t always consider Arizona to be their next market,” Kondo added. “Chandler Ranch is changing their minds.”

Key to success of the NewQuest concept is the concentration of established international restaurants and retail brands and rising stars from Pan-Asia and California that Nguyen’s team has been courting for several years.

Categories include authentic cuisines, high-end bakeries, dessert shops and specialty stores.

“As with we did in Texas, we are curating a tenant mix to create a diverse dining destination by recruiting certain brands for Chandler Ranch,” Nguyen said. “We hope to offer a destination where there is something that will appeal to everyone.”

NewQuest Properties was founded in 2001. The privately owned, full-service commercial real estate firm specializes in development, land brokerage, leasing, tenant representation, investment sales and property management services.

Headquartered in Houston, NewQuest owns a portfolio of more than 60 retail and mixed-use projects valued at $2.2 billion and provides leasing services for more than 12 million square feet of commercial space  throughout the U.S.

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