VESTAR'S QUEEN CREEK MARKETPLACE ABOUT TO OPEN ITS DOORS
VESTAR'S QUEEN CREEK MARKETPLACE ABOUT TO OPEN ITS DOORS. More Than Fifteen Marquee Retailers to Anchor Signature Retail Project in Southeast Valley
The Southeast Valley lifestyle will be even more splendid following the opening of Vestar Development Co.’s Queen Creek Marketplace. Expected to open in March 2008, Queen Creek Marketplace boasts more than 95 percent of its space leased or under commitment, an indication of both the swelling population and popularity of the far Southeast Valley for residents and retailers alike.
When Phase I opens in March, major tenants will include: - BevMo! - Tilly's - Kohl's - Sport Chalet - Ross - PetSmart - OfficeMax - Shoe Pavilion - SuperTarget - Cost Plus World Market - Famous Footwear – Bed Bath & Beyond – Steinmart – Ulta – Circuit City and more.
“This is an incredible tenant mix,” said Ryan Desmond, Project Manager for Vestar Development Co. “Residents throughout the Southeast Valley will enjoy the convenience and the quality of Queen Creek Marketplace.” In addition, Queen Creek Marketplace will generate more than $4 million per year in sales tax revenue for the community’s police, fire, parks and other municipal needs.
Phase II currently scheduled to open in 2010 will add approximately 200,000 square feet of additional retail, entertainment and restaurant tenants. When complete, Queen Creek Marketplace will be 1.1 million square feet of retail, restaurant, lifestyle and entertainment space on 110 acres at the intersection of Rittenhouse and Ellsworth Loop roads.
Queen Creek Marketplace is part of Vestar Development Co.’s “DESTINATION AZ” initiative. The program’s 17 retail projects will total more than 11 million square feet under development in Arizona. From 2006 to 2008, Vestar will deliver the single largest retail expansion in Arizona history.
Vestar Development Co. has been nationally recognized for pioneering innovative public/private partnerships and is responsible for building many of the largest and most successful open-air retail centers in Arizona and southern California. Known for its conscientious approach to developing environmentally sensitive and wildly entertaining properties, Vestar has established new benchmarks for working with neighborhood groups, communities and municipalities that address community needs, generate important tax revenues and foster goodwill on all levels. One of Vestar's most recent signature projects is Tempe Marketplace; a 1.3 million- square-foot regional entertainment, lifestyle and power center at the SWC of the 202 & 101 Freeways. Tempe Marketplace is unlike any other shopping center in Arizona and represents an evolution in shopping center development. The project occupies 110 acres and offers strategically integrated shopping, dining and entertainment in a festive, pedestrian oriented, town center environment.
