As interest and development of businesses continues to push towards northern Phoenix, Sunnyslope is expected to be the next booming area.
“What you are seeing is the envelope being pushed,” said Larry Ortega, executive vice president at Colliers International. “People are starting to discover Sunnyslope has a lot of interesting business aspects.”
Ortega along with his colleague Josh Jackson, associate vice president at Colliers International, are not far removed from having brokered the $3.3 million sale of the Walgreens Center at 8905 N. Seventh St.
Capital Development Group, along with its partner Rhapsody Ventures of Phoenix, are the new owners of the Walgreens Center and are planning on modernizing the property. The plans include Arizona’s oldest Walgreens and bringing new tenants, such as Planet Fitness, into the space previously held by Goodwill. The seller was the Phoenix-based Manson Family Trust.
This opportunity for redevelopment can be viewed as a “renaissance” in Sunnyslope. An example of this can be found in the opening of a second location of the wildly popular Little Miss BBQ restaurant.
“Probably in the last 12 months people have bridged the gap and gone north of Glendale (Avenue),” Jackson said. “People see Sunnyslope as a viable option to live, and they are looking for amenities.
Historically known as a lower income area with a lower population, Sunnyslope has recently become a go-to destination for young families and professionals looking to relocate.
The spark in the area results from the choices made by artists, musicians and chefs to both live and work in Sunnyslope.
“There is a lot of natural beauty in the neighborhood,” Ortega said, noting nearly half of the area of Sunnyslope is part of the mountain preserve.
Discussions have already taken place involving Jackson, Ortega and construction company clients regarding areas in Sunnyslope to become more centrally located and find infill space.
“Real estate is being pushed north,” Ortega said. “Downtown and Midtown are in play, Arcadia is in play, and people are interested in Sunnyslope.”
