Northpond Partners, a Chicago-based investment firm, has scooped up a neighborhood shopping center on Ellsworth Road in Queen Creek for $13.35 million, further signaling that out-of-state money is zeroing in on the town’s hottest corridor. Completed in 2023, the center totals about 20,452 square feet on roughly 2.76 acres and is anchored by an EOS Fitness, with around 11 tenant suites that include an urgent care clinic, a Subway and a Sports Clips. The purchase adds another national player to Queen Creek’s fast-changing Ellsworth stretch as the town courts new retail and a more defined downtown core.
Deal details and reporting
The sale was reported April 25, 2026, naming Northpond Partners as the buyer and Tempe-based Newquist Commercial Properties as the seller, according to the Queen Creek Tribune. Property-data provider Vizzda lists the center at 20,452 square feet on about 2.76 acres and shows a roughly $652-per-square-foot basis for the transaction. The Queen Creek Tribune also noted the center sits near Riggs Road on Ellsworth, a pocket that has become a magnet for new neighborhood retail projects.
Who bought it
Northpond Partners is a Chicago-based, retail-focused investment firm that targets neighborhood shopping centers and value-add repositioning plays. On its website, Northpond Partners describes a neighborhood-retail strategy centered on service-oriented tenants, the kind of daily-needs lineup this Queen Creek center already features. The firm also highlights its use of streamlined, all-cash closings so it can move quickly in competitive markets, a tactic that tends to get sellers’ attention when multiple buyers are circling the same asset.
Where this fits in Queen Creek's growth
Queen Creek has been actively recruiting new retail and downtown investment as part of a broader plan to reshape its core and the Ellsworth corridor, according to the town’s economic-development portal Invest The QC. That push has helped turn Ellsworth into a kind of front door for outside capital, especially investors hunting for newer, service-oriented centers that promise steady, local foot traffic rather than splashy destination retail.
Seller and market notes
The property had been owned and marketed by Newquist Commercial Properties of Tempe, which business listings identify as a regional retail developer. Sites such as MapQuest show Newquist’s Tempe address along with a history of community shopping-center projects. The deal lines up with a broader pattern across metro Phoenix in which investors are steadily consolidating neighborhood retail properties, one well-leased strip at a time.
Next steps for the center
Public reporting reviewed for this story does not include detailed, site-specific plans from either Northpond or Newquist, so any repositioning, re-tenanting or lease reshuffling will likely unfold over the coming months. We will keep an eye on county filings, permitting records and additional local reporting for updates on tenants, renovations or lease activity at the Ellsworth center.
