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Kensington Development Partners and IM Properties have acquired the development site for the first phase of Signature at SanTan Village, a 300,000-square-foot retail project in Gilbert, Ariz. Phase One construction is set to begin immediately.

The joint venture is developing the $145 million project in partnership with state landowners and SanTan Development Group. The future retail center has already secured anchor tenants such as Whole Foods Market and DICK’S Sporting Goods’ House of Sport.