South Anchor: A Long-Awaited Development Gaining Momentum in Gilbert’s Heritage District
After years of planning and anticipation, South Anchor is finally gaining momentum as it moves forward in securing tenants for its highly sought-after commercial spaces. Positioned as a key entry point to Gilbert’s Heritage District, this development is designed to enhance the area’s vibrancy while maintaining its historic charm. 
South Anchor is part of a larger vision, anchored by a 203-unit mixed-use multifamily development by Keeley, which aims to bring both density and community-focused amenities to the fast-growing suburb of Phoenix. This project introduces a walkable, bike-friendly environment that seamlessly integrates with the Heritage District’s character, offering new residential, retail, and dining experiences.
Property Overview
Located at the northwest corner of Gilbert Road and Elliot Road (NWC Gilbert Rd & Elliot Rd, Gilbert, AZ 85233), South Anchor offers 14,000+ square feet of prime retail space available for lease. The development will be complemented by Keeley’s ground-up multifamily project, which spans 2.8 acres and features:
- 203 residential units (studio to three-bedroom apartments)
- 15,000+ square feet of commercial and patio space
- A bicycle-centric retail/café and restaurant
- A 342-space above-grade parking garage, configured internally within the site
- Shared outdoor spaces, fostering pedestrian and pet-friendly neighborhood engagement
The project aligns with Gilbert’s reputation as a fast-growing city with a top-rated school system and a vibrant downtown. South Anchor will serve as a bridge between the existing Heritage District and this new wave of development, enhancing connectivity with the Ash Street Paseo and surrounding amenities.
Available Spaces at South Anchor
With leasing efforts ramping up, businesses now have the opportunity to secure retail or restaurant space in this transformational development. The available spaces include:
1st Floor: Retail/Restaurant – 1,070 SF
- Ideal for boutique shops, coffee houses, or fast-casual dining.
- Availability: Immediate
1st Floor: Retail/Restaurant – 2,400 SF
- A larger footprint suitable for sit-down restaurants or high-end retail.
- Availability: Immediate
1st Floor: Retail/Restaurant with Patio – 2,000 SF
- Perfect for a restaurant or café looking to provide an outdoor dining experience.
- Availability: Immediate
2nd Floor: Retail/Restaurant with Terrace – 2,600 SF
- An elevated dining or retail concept with a terrace overlooking the Heritage District.
- Availability: Immediate
Why South Anchor?
This development is more than just another mixed-use project—it’s a destination. South Anchor is uniquely positioned to attract high-quality tenants by offering:
- A high-traffic, walkable location in the heart of Gilbert’s thriving downtown
- A modern yet historically conscious design, blending new development with the district’s character
- Built-in foot traffic from Keeley’s 203-unit multifamily project, creating a built-in customer base
- Proximity to Ash Street Paseo and Gilbert’s expanding network of public spaces