Skyline Ranch Marketplace, a 31-acre commercial site in San Tan Valley, has been acquired by Scottsdale-based Pennant Development and Tennessee-based real estate investment firm REALM.

The two companies have plans to develop the 165,500 square-foot retail shopping center at Hunt Highway and Gary Road.

The site will be anchored by a newly constructed WinCo Foods supermarket scheduled to open this year.

Other established retailers currently operating onsite include The Home Depot, Panda Express and Freddy's Frozen Custard & Steakburgers, according to a press release.

Leases have been signed with Ulta Beauty, Marshalls, HomeGoods, PetSmart and Five Below. Junior anchor tenants are slated to open over multiple construction phases through 2026, with project completion targeted for 2027.

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