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COLORADO SPRINGS, Colo. (Feb. 6, 2017) - Signature Realty Capital Corp. is pleased to announce it has partnered with Phoenix-based De Rito Land Development LLC to move forward with development on the Westgate at Powers property.

The Colorado Department of Transportation and the City of Colorado Springs have completed widening the intersection at Powers and Airport, which means that key commercial property development can begin.

The first step will be to hire a construction company and move Troy Hill Road to the west – to intersect with Airport Road at a new, lighted intersection near the existing McDonald’s and Loaf ‘N Jug.

“The City has approved the relocation of Troy Hill Road and access to it based on De Rito’s approved development plan. And, in the very near future, the City is expecting to finalize a roadswap with the State of Colorado Department of Transportation that would bring Troy Hill Road under City authority,” said Kathleen Krager, senior traffic engineer for the City of Colorado Springs.

“This change of authority will allow the City to provide access to properties along that road and encourage appropriate development. We look forward to the future construction of Westgate at Powers.”

Financing has been completed for the site and Signature Realty is currently waiting to sign agreements with interested retailers.

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PHOENIX, AZ - With a proud history of revitalizing retail centers, De Rito Partners Development, Inc. is excited to announce the ongoing redevelopment and re-tenant efforts at Arcadia Fiesta, located at the southwest corner of 32nd Street and Indian School Road in Phoenix.  “The new center will bring a fresh and newly upgraded shopping experience to this neighborhood. Our leasing team continues to work tirelessly to re-tenant the center and we are pleased with the progress to date.” said Chuck Carlise, President, De Rito Partners Development, Inc.  

Amongst the newest tenants to the center is Ross Dress for Less, the largest off-price apparel and home fashion chain in the United States. The retailer will open in the 30,190 square-foot, former Food City space.  In addition to Ross, Tuesday Morning will join the center, taking a portion of the former AMF Bowling Alley. The retailer, specializing in designer and name-brand closeout merchandise, will relocate from its existing space at the southeast corner of 36th Street and Indian School Road.  Salon Boutique, Anytime Fitness and Fantastic Sam’s will also be new additions to Arcadia Fiesta, joining existing tenants Ace Hardware and O-Reilly Automotive. Both Ace and O-Reilly have existing leases, and with construction underway, will soon receive a facelift. The east portion of the former Food City space, adjacent to 32nd Street, was demolished, with a new 15,000 square-foot shops building being constructed in its place with leasing space available.   

“The exterior design will feature a completely refreshed building façade including new store fronts, updated landscaping and parking lot refurbishment.” said Doug Himmelberger, Director of Development & Construction at De Rito Partners Development, Inc.

Phoenix architect Irwin Pasternack worked on design plans for the project, with Wespac Construction, Inc. working as the general contractor.   

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PHOENIX, AZ – De Rito Land Development, LLC, a company formed by De Rito Partners in Phoenix (Marty De Rito, Jerry Friedman, principals), has gained Phoenix City Council approval for the re-zoning of a former auto dealership facility located at the southeast corner of Camelback Road and 23rd Avenue.

De Rito Partners plans to re-develop the 7.9 acre parcel to be called Westwood on Camelback. Phoenix architects RKAA Architects, Inc., are working on design plans for the new center to be anchored by a 46,000 sq. ft. El Super Grocery Store, with two inline shops buildings totaling 6,000 sq. ft. and 8,400 sq. ft. and two out-parcels. The El Super (brokered by Beeh SRS, Ed Beeh and Robbie Petty, principals), is anticipated to open first quarter of 2017, with construction beginning July 2016.  De Rito Partners, Inc. is handling the leasing for the project.

“We were pleased to support the City of Phoenix Parks and Recreation Department’s annual holiday celebration this past December for the benefit of the Westwood Community and we are excited to be working on this new retail destination that will serve area residents well into the future.” said Marty De Rito, CEO of De Rito Partners.

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