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PHOENIX-Texas Roadhouse Holdings has paid $580,000 for its third retail pad site in the Valley. The popular steakhouse has bought the Desert Sky Esplanade site from John F. Long Properties of Phoenix.

Construction will get under way later this month on the 70,361-sf pad in anticipation of a first quarter 2002 opening. Desert Sky Esplanade is a power center located at the corner of McDowell Road and 75th Avenue in the West Valley. The sale price equates tonearly $8.25 per sf. Texas Roadhouse also operates eateries in Mesa and Peoria.

Long, a residential building and land investor, is the developer of Desert Sky Esplanade and owns a number of other parcels in the West Valley. The Phoenix office of Insignia/ESG, with brokers Stephanie Davis and Paul Holland, a represented Long. David Mayo of Vector Realty Advisors’ Phoenix office negotiated the sale for Texas Roadhouse.

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