{"id":1004778654,"date":"2025-11-19T05:43:39","date_gmt":"2025-11-19T13:43:39","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004778654"},"modified":"2025-11-21T07:44:49","modified_gmt":"2025-11-21T15:44:49","slug":"vestar-delivers-400-ksf-retail-center-in-phoenix","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/vestar-delivers-400-ksf-retail-center-in-phoenix\/","title":{"rendered":"Vestar Delivers 400 KSF Retail Center in Phoenix"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-large is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/11\/Queen-Creek-Crossing-1.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004778656\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/vestar-delivers-400-ksf-retail-center-in-phoenix\/queen-creek-crossing-1\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/11\/Queen-Creek-Crossing-1.jpg\" data-orig-size=\"8064,6048\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;1.7&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;FC3582&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1761128771&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;6.72&quot;,&quot;iso&quot;:&quot;110&quot;,&quot;shutter_speed&quot;:&quot;0.00025&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Queen Creek Crossing in Queen Creek, Ariz.\" data-image-description=\"&lt;p&gt;Rendering courtesy of Vestar, attached to the press release&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Queen Creek is a retail center in metro Phoenix.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/11\/Queen-Creek-Crossing-1.jpg?w=1024\" height=\"768\" width=\"1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/11\/Queen-Creek-Crossing-1.jpg?w=1024\" alt=\"Aerial shot of the Costco store that anchors Queen Creek Crossing, a 400,000-square-foot retail center in Queen Creek, Ariz.\" class=\"wp-image-1004778656\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/11\/Queen-Creek-Crossing-1.jpg 8064w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/11\/Queen-Creek-Crossing-1.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/11\/Queen-Creek-Crossing-1.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/11\/Queen-Creek-Crossing-1.jpg?resize=1024,768 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/11\/Queen-Creek-Crossing-1.jpg?resize=1536,1152 1536w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/11\/Queen-Creek-Crossing-1.jpg?resize=2048,1536 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><figcaption class=\"wp-element-caption\">A 154,580-square-foot Costco store anchors the newly delivered Queen Creek Crossing. <em>Image courtesy of Vestar<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Vestar has completed Queen Creek Crossing, a 400,000-square-foot retail center in Phoenix\u2019s Queen Creek suburb. Initially designed to comprise 300,000 square feet, the project broke ground in the summer of 2022 and came online in two phases.<\/p>\n\n\n\n<p>Queen Creek Crossing is currently fully leased. The property&#8217;s main anchor tenant, a 154,580-square-foot Costco store, opened its doors in 2023. A 55,000-square-foot Hobby Lobby and a 45,000-square-foot Ashley Furniture joined the roster later on.<\/p>\n\n\n\n<p>Tenant also include BJ&#8217;s Restaurant and Brewhouse, Ono Hawaiian BBQ, Smoothie King, Sleep Number, Fleet Feet, Well Groomed Pets, Desert Financial Credit Union, Natural Pediatrix, Gallery Nails and Snip-Its. The Habit Burger Grill and U.S. Bank will open retail spaces at the property in December 2025 and late 2026, respectively. <\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/retail-sales-on-the-mend-upswing-or-seasonality\/\">Retail Sales, Foot Traffic Are on the Mend. Upswing or Seasonality?<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>Located on a 31-acre site at the intersection of South Ellsworth Road and East Fulton Parkway, the retail center serves more than 150,000 residents within a 5-mile radius. Mesa Gateway Airport is about 5 miles away and downtown Phoenix is some 37 miles northwest.<\/p>\n\n\n\n<p>Vestar\u2019s retail portfolio in the same suburb also includes Queen Creek Marketplace and Vineyard Towne Center. The first one is a 90,170-square-foot property within 1 mile of Queen Creek Crossing, while the second one is a 260,000-square-foot shopping center anchored by a 145,000-square-foot Target store.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-phoenix-retail-market-s-mixed-bag\">Phoenix retail market&#8217;s mixed bag<\/h2>\n\n\n\n<p>Greater Phoenix saw nearly 412,000 square feet of retail space delivered in the third quarter of this year, bringing the nine-month total to more than 1.8 million square feet, according to a Kidder Mathews report. The figure marked a 13.4 percent growth over the year. Meanwhile, the market&#8217;s construction pipeline amounted to almost 1.85 million square feet, down by 40.8 percent on a year-over-year basis.<\/p>\n\n\n\n<p>Retail vacancies rose to 4.6 percent, up 20 basis points year-over-year, in line with the current U.S. <a href=\"https:\/\/www.commercialsearch.com\/news\/retail-market-trends\/\">retail market trends<\/a>. However, the average asking rent also went up 5.4 percent from the third quarter of 2024, reaching $1.67 per square foot.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The property is fully leased.<\/p>\n","protected":false},"author":3619,"featured_media":1004778656,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21742,1601,21749,15],"tags":[35655],"class_list":["post-1004778654","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-latest","category-phoenix","category-retail","category-west","tag-vestar"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Vestar Delivers 400 KSF Retail Center in Phoenix - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Vestar has completed the development of Queen Creek Crossing, a 400,000-square-foot retail center in Phoenix\u2019s Queen Creek suburb.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/vestar-delivers-400-ksf-retail-center-in-phoenix\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Vestar Delivers 400 KSF Retail Center in Phoenix\" \/>\n<meta property=\"og:description\" content=\"Vestar has completed the development of Queen Creek Crossing, a 400,000-square-foot retail center in Phoenix\u2019s Queen Creek suburb.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/vestar-delivers-400-ksf-retail-center-in-phoenix\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2025-11-19T13:43:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-11-21T15:44:49+00:00\" \/>\n<meta name=\"author\" content=\"Maria Maruta\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/11\/Queen-Creek-Crossing-1.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/vestar-delivers-400-ksf-retail-center-in-phoenix\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/vestar-delivers-400-ksf-retail-center-in-phoenix\/\",\"name\":\"Vestar Delivers 400 KSF Retail Center in Phoenix - 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