Vestar Holds Ceremonial Groundbreaking of Verrado Marketplace - Unveiling Expanded List of Restaurants and Retailers to Join in 2026
Shake Shack, ULTA Beauty, Buckle, Famous Footwear, Handel's Ice Cream, and Salt Tacos + Tequila, Among Tenants at the 500,000-Square-Foot Retail Destination
BUCKEYE, Ariz., Nov. 21, 2024 /PRNewswire/ -- Vestar, the largest privately held shopping center owner and manager in the western United States, has officially broken ground on Verrado Marketplace, the West Valley's next generation shopping center. In a ceremony attended by city leaders, developers, retailers, and community partners on Wednesday, November 20th, attendees heard remarks from Buckeye Mayor Eric Orsborn, Vestar's President and CEO David Larcher, DMB's Chief Operating Officer Dan Kelly, and Vestar's Executive Vice President of Development Jeff Axtell.
Located at the northeast corner of the Interstate 10 Freeway and Verrado Way in Buckeye, Arizona, Verrado Marketplace will stand at the entrance to DMB Associates' 8,800-acre Verrado master-planned community. Verrado Marketplace will offer Buckeye residents and the West Valley an unparalleled shopping, dining, and entertainment experience—all in one convenient location.
During the groundbreaking ceremony, Vestar unveiled an expansive roster of more than 15 new retailers that will join anchor tenants Target, Harkins Theaters newest 'Backlot' concept, Safeway, Ross, Marshalls, and HomeGoods.
ULTA Beauty, Famous Footwear, Buckle, Salt Tacos + Tequila, Bath & Body Works, Shake Shack, Handel's Ice Cream, Nekter Juice, See's Candies, Thai Chili, Einstein Bros. Bagels, Tropical Smoothie, Hawaiian Bros., European Wax Center, Zara Nails, Pacific Dental, America's Best Contacts & Glasses, and Mountain America Credit Union are among the tenants projected to open starting spring 2026. The property will have over 50 retailers and restaurants once completed. Additional tenant announcements will be made in the coming months.
"The groundbreaking of Verrado Marketplace marks a historic moment for Buckeye, and we are excited to begin construction on this unique development," said Vestar President and CEO David Larcher. "This shopping center will offer a dynamic mix of premium retail, dining, and entertainment, along with large gathering spaces that will serve as a community hub for both the Verrado community and entire West Valley. As the first of its kind in this region, we look forward to Verrado Marketplace becoming a landmark for this rapidly growing community."
With a total investment of $275 million, Verrado Marketplace is projected to generate over $50 million in total tax revenue for the City of Buckeye and contribute an estimated $1.8 billion in economic output over the next 10 years. The development is also expected to bring more than 1,500 permanent jobs to the West Valley.
"As one of Verrado's very first residents, I've driven past this vacant lot for over 20 years," stated Buckeye Mayor, Eric Orsborn. "I couldn't be more excited to finally see this land transformed into the vibrant destination we've always envisioned. The date-night restaurants, entertainment and retail that Buckeye residents have been asking for and truly deserve will soon be right in our backyard. This Vestar development will elevate Buckeye as the place to be in the West Valley and help drive growth throughout the entire city."
The highly anticipated entertainment and lifestyle destination will feature unique amenities designed to enhance the visitor experience, including a splash pad, a live performance stage and video screen, and a half-acre central lawn surrounded by restaurants featuring outdoor fireplaces and more. Verrado Marketplace will also offer a "Sip & Stroll" experience, where guests over the age of 21 can consume alcoholic beverages while enjoying designated common areas within the property. Planned activities will include musical performances, holiday celebrations, and other community-focused events, further enhancing its role as a destination for local engagement.
Verrado Marketplace will benefit from Vestar's GreenStar sustainability program, incorporating eco-friendly features and energy-efficient practices throughout development. Sustainable elements will include solar power, LED lighting, EV charging stations and the use of energy-efficient building materials—all designed to minimize the environmental impact and ensure the center's long-term sustainability.
Verrado Marketplace is owned and developed by Vestar in partnership with DMB Associates.
Western Retail Advisors brokers Ryan Desmond, Charles Skaggs and Justin DiBiase serve as the exclusive leasing brokers for Verrado Marketplace.
Haydon Building Corp is the general contractor for the property, with Nelsen Partners and Optimus Civil Design Group providing architectural and engineering services.
For more about Vestar, visit Vestar.com.
For more about Verrado Marketplace, visit AtVerradoMarketplace.com.
About Vestar
Vestar, a leading privately held real estate company in the western United States, specializes in the acquisition, management, and development of retail real estate, including entertainment-retail complexes, power and lifestyle centers and neighborhood centers of varying size and scale, that serve as community shopping destinations. Vestar has earned a reputation for integrity and responsibility in the fields of retail development, operations, leasing, and marketing. Founded in 1989, Vestar currently owns and operates over 30 million square feet of space in the western United States with an additional 1.2 million square feet in development. For more information, please visit vestar.com.
About Verrado Marketplace
Verrado Marketplace is a dynamic 500,000-square-foot shopping, dining, and entertainment destination located in the heart of Buckeye, Arizona- set to open in 2026. The first of its kind in the region, this unique property will feature more than 50 premier tenants and is designed to serve as a vibrant community focal point, featuring a spacious central lawn, a live performance stage, outdoor fireplaces, a PopJet splash pad, and more. Anchored by Target, Harkins Backlot, Safeway, Ross, Marshalls, and HomeGoods, Verrado Marketplace is conveniently situated at the northeast corner of Interstate 10 and Verrado Way and is destined to become a landmark property for the growing West Valley. Follow for updates on @verradomarketplace and atverradomarketplace.com.
SOURCE Vestar
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