FOR IMMEDIATE RELEASE -
NEW GREAT HEARTS ACADEMY TO BE LOCATED AT THE PAVILIONS SHOPPING CENTER
Scottsdale, AZ – November 21, 2013. The Pavilions Shopping Center announces that a new Great Hearts academy campus will be built at the property. We are so pleased to be the chosen site for this highly respected and sought after education facility. The synergy between the families of the 1200 school children and our ever-increasing selection of stores, restaurants and entertainment venues is a perfect union,” said Chuck Carlise, President of De Rito Partners Development, Inc.”
Great Hearts Academies is a non-profit organization which operates some of the top public schools in the country. Its 16 tuition-free charter schools are based on a core, classical liberal arts curriculum and prepare graduates for success in the best colleges and universities in the nation. The Great Hearts vision for students is to be leaders in creating a more philosophical, humane and just society. Families wishing to enroll their students at the new K-5 Archway Classical Academy – Cicero, or at the middle/high school, Cicero Preparatory Academy, can find enrollment information at www.greathearts.com.
The 80,000 square foot school will be built in an area of the center that once was occupied by a Fiddlesticks and Chuck E Cheese. Phase I will accommodate students in grades K-7 and Phase II to 12th grade. The location gives the school visibility to traffic on Indian Bend and Pima Roads and allows for easy access to parents dropping off their children. The school will open in August 2014 for the fall semester and is taking applications through open enrollment now.
When De Rito Partners Development bought the center for $88 million in 2008, Mervyn’s, Circuit City and Best Buy were all on their way out. “We have 1.2 million square feet of retail space, which is a healthy amount by today’s standards, said Chuck Carlise. There continues to be vacant space to fill in the Phoenix area, retailers are getting smaller and this unique usage for a shopping center comes to The Pavilions at the perfect time. ”
Since purchasing the property, De Rito Partners Development has spent $21 million in renovations and tenant improvements to revitalize the shopping center, including a new food court area, landscaping, pedestrian improvements, additional parking and infrastructure. New permanent leases to the center since January 2008 include Buffalo Wild Wings, Mountainside Fitness*, Chipotle Mexican Grill, Verizon Wireless, Filiberto’s, TONI & GUY Hairdressing Academy, Goodwill Industries*, Hobby Lobby, CarLife, Barro’s Pizza*, UltraStar Cinemas*, Burlington Coat Factory, Hooters, Octane Raceway, Blimpie Sub Shop, Jack’s Warehouse, Conn’s Home Plus, T Moblie, Sprint, CPR Cell Phone Repair, Owl Ear Smoke Shop and KaviShop. Coming soon are Red Robin, 99c Only Store, Popeye’s and Courtyard Interiors. For more information visit derito.com.
About De Rito Partners
De Rito Partners is structured into four entities; Established in 1992, De Rito Partners, Inc., has grown to become one of the largest brokerage firms in Arizona specializing in retail. De Rito Partners, Inc., offers full-service retail brokerage operations, property leasing, sales and tenant representation. The company has 33 seasoned brokers exclusively representing more than 220 shopping center owners and 60 national and local retailers. De Rito Partners, Inc., is also the exclusive Arizona member of Retail Brokers Network, a national real estate powerhouse composed of the foremost retail brokerage firms in the U.S. De Rito Partners Development, Inc., specializes in the development and redevelopment of select retail and mixed-use properties. Currently redeveloping 1.1 million sq ft at The Pavilions at Talking Stick (formerly Scottsdale Pavilions), the company creates retail environments for shoppers, merchants, communities and investors, and has developed 19 first-class retail and auto properties totaling more than 5 million square feet throughout the Greater Phoenix area. De Rito Property Management, LLC., offers premier-quality property management services for retail properties of any size. Currently managing 35 properties totalling over 1.7 million square feet. De Rito Opportunity Investors, LLC., has recently purchased 44 retail assets, with plans to add more this year, offers individually tailored retail property solutions, specializing in acquisitions of distressed properties and value added opportunities. The company website is www.derito.com.
About Great Hearts Academies
Great Hearts Academies is a non-profit network of public charter schools dedicated to improving education by developing a network of excelling preparatory academies. It currently manages 16 schools in the Phoenix metro area, with over 7,500 students in grades K-12, and will open three new Arizona schools and one new San Antonio, Texas school in 2014. The focus of Great Hearts Academies is a classical, liberal arts curriculum with an emphasis on the Great Books and the Socratic teaching method. Great Hearts Academies are comprehensive prep schools, with competitive athletics programs and a variety of extracurricular activities, such as speech and debate, competitive chess, and music ensembles. Great Hearts’ schools rank in the top 1% of all Arizona public schools, and 95% of graduates attend a 4-year college. Great Hearts Academies has a track record in Arizona of elite college placement that surpasses or rivals all the surrounding local public and private schools. The academies prepare graduates to be leaders in creating a more philosophical, humane, and just society and a life-long commitment to the pursuit of truth, goodness, and beauty. Learn more athttp://greatheartsaz.org.