{"id":1004692256,"date":"2023-11-29T05:04:24","date_gmt":"2023-11-29T13:04:24","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004692256"},"modified":"2023-11-29T05:04:27","modified_gmt":"2023-11-29T13:04:27","slug":"vestar-jv-signs-anchor-tenants-at-phoenix-shopping-center","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/vestar-jv-signs-anchor-tenants-at-phoenix-shopping-center\/","title":{"rendered":"Vestar JV Signs Anchor Tenants at Phoenix Shopping Center"},"content":{"rendered":"<div id=\"attachment_1004692257\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/11\/Verrado-Marketplace-1-e1701259474672.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004692257\" data-attachment-id=\"1004692257\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/vestar-jv-signs-anchor-tenants-at-phoenix-shopping-center\/verrado-marketplace-1\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/11\/Verrado-Marketplace-1-e1701259474672.jpg\" data-orig-size=\"2250,1690\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Verrado Marketplace 1\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/11\/Verrado-Marketplace-1-e1701259474672.jpg?w=1024\" class=\"wp-image-1004692257 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/11\/Verrado-Marketplace-1-e1701259474672.jpg?w=300\" alt=\"Between construction and operation, Verrado Marketplace is estimated to result in economic output of $1.8 billion over a ten-year period. Image courtesy of Vestar\" width=\"300\" height=\"225\" \/><\/a><p id=\"caption-attachment-1004692257\" class=\"wp-caption-text\">Verrado Marketplace is scheduled to open its doors by late 2025. <em>Image courtesy of Vestar<\/em><\/p><\/div>\n<p><strong>Vestar<\/strong> and <strong>DMB Associates<\/strong> have landed six <a href=\"https:\/\/www.commercialsearch.com\/news\/getting-in-the-heads-of-retail-tenants\/\">anchor tenants<\/a> at Verrado Marketplace, a 512,000-square-foot future shopping center in Buckeye, Ariz. <strong>Target<\/strong>, <strong>Harkins BackLot<\/strong>, <strong>Safeway, Marshalls<\/strong>, <strong>Ross<\/strong> and <strong>HomeGoods<\/strong> will commence operations at the property in late 2025.<\/p>\n<p>The Target store will occupy 147,000 square feet, while Harkins BackLot&#8217;s lease encompasses 75,000 square feet. Adjacent to Target, anchors Marshalls, Ross and HomeGoods have a combined 70,000-square-foot tenancy.<\/p>\n<hr \/>\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/what-limits-retail-leasing\/\">What\u2019s Hampering Retail Leasing?<\/a><\/p>\n<hr \/>\n<p>Verrado Marketplace will take shape on 48 acres at the northeastern corner of Interstate 10 and Verrado Way. The site is at the entrance of Verrado, the 8,800-acre master-planned community developed by DMB. The mixed-use property includes 4.2 million square feet of commercial space, around 14,000 entitled homes and 77 parks.<\/p>\n<h2>Verrado Marketplace, up close<\/h2>\n<p>Between construction and operation, Verrado Marketplace is expected to generate $1.8 billion over a 10-year period. Announced in 2022, <a href=\"https:\/\/www.commercialsearch.com\/news\/vestar-to-develop-125m-phoenix-area-shopping-center\/\">the $125 million project<\/a> received the Buckeye City Council\u2019s approval in July. Groundbreaking is expected in the summer of 2024, while delivery is scheduled by late 2025.<\/p>\n<p>Apart from traditional shopping space, the open-air Verrado Marketplace will also include areas for concerts, community events and social gatherings, as well as a PopJet Splash Pad. The pedestrian-friendly and sustainable development will adopt Vestar\u2019s signature shopping, dining, and entertainment experience, aiming to transform the mall into a community hub for social interaction in the heart of Buckeye.<\/p>\n<p>To be developed by using Vestar\u2019s sustainability program, GreenStar, the shopping center is set to feature solar power, energy-efficient building materials, water harvesting, white \u201ccool\u201d roofs, artificial turf, LED lighting, drip system landscaping, onsite recycling and composting and electric vehicles charging stations.<\/p>\n<p><span style=\"font-size: revert; color: initial;\">Verrado Marketplace will generate approximately 1,500 permanent jobs and is estimated to bring in more than $50 million in taxes to the city of Buckeye within the next 10 years.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Target alone will occupy 147,000 square feet at the open-air property.<\/p>\n","protected":false},"author":3014,"featured_media":1004692257,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21782,21742,1601,21749,15],"tags":[38788,34545,35655],"class_list":["post-1004692256","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-development","category-latest","category-phoenix","category-retail","category-west","tag-homegoods","tag-target-corporation","tag-vestar"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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