Mountainside Fitness Purchases Vistancia Land Site for New Arizona Location

Major fitness center takes first position in FIVE NORTH at VISTANCIA commercial retail area

PEORIA, ARIZONA, July 22, 2026 – Phoenix-based retail brokerage specialist Western Retail Advisors (WRA) has completed the sale of 4.1 acres within FIVE NORTH at VISTANCIA from Vistancia Development LLC to Mountainside Fitness, bringing a major fitness operator to the award-winning, 7,100-acre Vistancia master-planned community in North Peoria, Arizona.

Totaling $3,013,808, the sale represents the first milestone for the commercial retail development planned for FIVE NORTH at VISTANCIA, the Vistancia community’s 320-acre mixed-use urban core envisioned to include a dynamic retail and restaurant corridor, along with a distinctive mix of employment, healthcare, education, residential, parks and open space.

“The Mountainside Fitness transaction signals a new wave of development momentum for FIVE NORTH at VISTANCIA,” said Mark Hammons, General Manager of Vistancia. “FIVE NORTH at VISTANCIA will bring community-centric, high-quality experiences directly to our residents’ doorsteps. Mountainside’s commitment moves us a step closer to that vision and plans to create an exceptional urban lifestyle destination that will elevate the daily lives of residents and serve as an anchor for future growth.”

Vistancia will become the 25th metro Phoenix location for Mountainside Fitness, a Scottsdale-based health club brand serving more than 150,000 members Valleywide. Slated to open in winter 2026, the 40,000-square-foot health club will offer state-of-the-art equipment, more than 70 daily group fitness classes and additional on-site amenities including high-end locker rooms and an elevated childcare program.

The Mountainside club will link to the larger FIVE NORTH at VISTANCIA development via a walkable and open plan designed to connect residents and visitors to unique and compelling lifestyle and living experiences.

WRA’s Charles Skaggs and Jake McClaughry represented Vistancia in the Mountainside Fitness land sale. JLL’s Regan Amato and Ryan Tanner represented Mountainside Fitness.

“Mountainside creates the kind of community connection that FIVE NORTH at VISTANCIA is designed to deliver,” said McClaughry. “As one of the first major operators to commit to the project, it also helps set the tone for a destination that has been years in the making, signaling that there is opportunity ahead for other quality brands looking to serve this high-performing demographic.”

FIVE NORTH at VISTANCIA benefits from a City of Peoria population of almost 65,500 residents within five miles, an average household income of $161,212 within one mile, and a city that has grown more than 20% since 2010 – in the process being named a #1 City to Live in Arizona by Money Magazine.

The project is located at Loop 303/Bob Stump Memorial Parkway at Lone Mountain Parkway. It is minutes from the Taiwan Semiconductor Manufacturing Co. (TSMC) in North Phoenix and the future Peoria Innovation Core, a major new technology employment hub anchored by Amkor. It is also proximate to leading recreational destinations including the City of Peoria’s Paloma Community Park, Lake Pleasant Regional Park and Peoria Sports Complex.

FIVE NORTH at VISTANCIA is part of the award-winning Vistancia master plan, offering five lifestyle communities, a 3.5 mile Discovery Trail, private community recreation centers with resort-style pools, two K-8 schools, parks, and two golf courses including the private Blackstone Country Club and daily fee Trilogy Golf Club – all with a backdrop of the White Peak and Twin Buttes mountains. For more information, visit www.vistancia.com or www.visitfivenorth.com

Nancy McClure Joins The Morning Voice to Talk All Things Tucson Retail

Our new Tucson, Arizona market lead Nancy McClure recently joined Ed Ackerley as a guest on The Morning Voice, KVOI 1030AM, to talk Southern Arizona retail’s past, present and future.

Listen to the full segment here: https://tinyurl.com/Nancy-McClure-Morning-Voice

Thank you Ed, and everyone on The Morning Voice, for the invitation!

Why the Next Generation of Brokers Matters More Than Ever

Trend Report • April 2026

By Makenna Wesley, Associate Vice President, Western Retail Advisors

Returning to the Arizona commercial real estate market after four years in Southern California has given me a clear view of how dramatically the Valley’s landscape has changed, and how exciting that feels as a retail broker. The corridors I once drove daily are now filled with new shopping centers and innovative concepts, and more are on the way.

Makenna Wesley
Associate Vice President
Favorite Tech Tool?
ChatGPT
Favorite Emerging Trend?
Health & Wellness Retailers. They’re an important part of the tenant mix, creating community and a sense of place in a world where it’s easy to spend your day behind a screen.
Cool Recent Win?

Connecting with a fitness operator on TikTok, then being hired as their tenant rep broker!

 

A Market Transformed

While I was gone, metro Phoenix welcomed between 50,000 and 70,000 new residents annually, bringing today’s population to over 5 million. Western Retail Advisors shares that energy, growing by about 25% during my time away.

Some of our firm’s growth has come through the addition of younger, rising brokers. In fact, at the same time that I returned as an Associate Vice President, WRA added Lee Larcher and Megan Adamic as Senior Associates. Lee started his career as a WRA intern, and rejoins with a decade of added experience. Megan joins the firm from a leading commercial real estate brokerage and development group.

I’m proud of this, because brokerage firms that fail to diversify or resist new tools and perspectives will eventually fall behind. In contrast, evolving helps us all work more efficiently, anticipate trends and capitalize on them for the benefit of our company, clients and community.

Why Younger Brokers Matter

Younger brokers are critical to that evolution, adding both curiosity and technological fluency. They also bring an acute understanding of consumer shifts – like Gen Z’s increased prioritization of health, wellness and longevity.

As Phoenix’s population booms, it’s more important than ever to identify these preferences early and stay one step ahead as tenant mixes transform. Whether it’s fashion and fitness, coffee or experiential dining, younger brokers offer a great advantage in identifying and capitalizing on new frontiers.

 
Lee Larcher
Senior Associate
Favorite Tech Tool?
My cell phone, because speed and access win deals. Also Placer.ai for data validating site selection.
Favorite Emerging Trend?
Technology. It has changed the way people spend their time and money, and how owners and operators engage with their customers and communities. Those who use it are outperforming and will continue to lead.
Cool Recent Win?
Securing a high-profile location for a growing brand by getting in early, leveraging relationships and technology, and speed to execution – ultimately providing value for both sides.


Fresh Perspectives Meet Deal Fundamentals

Their questions also encourage us more experienced brokers to slow down and revisit fundamentals. Not long ago, I was learning the subtleties of dealmaking. Now, when a younger broker asks why a term is structured a certain way in an LOI or how one clause affects another, I find myself pausing to reconsider it with a level of deliberate curiosity that is always valuable.

 

Of course, when it comes to technology, new tools are second nature to younger brokers. Relationships rule in our industry, but technology is boosting our efficiency like no other time in history. A younger broker’s enthusiasm for innovation is a critical reason firms should always continue investing in their talent.

Fresh Perspectives Meet Deal Fundamentals

WRA’s investment in the next generation of brokers happens daily, with mentorship and leadership training woven into our culture. We each create annual business plans, and are provided follow-up support on those goals by senior leadership throughout the year. As a still-rising broker myself, I’ve found this engagement to be not only rare but incredibly helpful. The impact is multiplied exponentially for the brokers rising behind me.

WRA also provides all of its brokers with full-day leadership seminars, including work-style assessments that help us understand how different personalities communicate. This was eye-opening for me. Whether I’m collaborating with colleagues or negotiating a deal, understanding communication styles makes every interaction more effective.

For emerging brokers, WRA provides a six-month development program, combining in-person and virtual learning through an outside expert. This gives us a valuable springboard for ongoing professional development, which WRA further promotes by encouraging conference attendance and industry organization memberships. The goal: to broaden our perspectives and strengthen the entire firm.

 

Megan Adamic

Senior Associate
Favorite Tech Tool?
ReSquared. It helps efficiently reach mom-and-pop and local tenants.
Favorite Emerging Trend?
How fitness concepts enter the market. They target similar audiences but with unique approaches to site selection.
Cool Recent Win?
Traveling to meet emerging brands in person. It’s the best way to strengthen the client connection and gain a deeper understanding of their concepts.


Evolve or Fall Behind

Technology and markets change rapidly, and the danger of becoming complacent is real.

 

In our field, it’s also true that no two deals are identical. That diversity is what attracts many of us to this industry, and makes senior brokers vital resources for navigating these waters. In the same way, younger brokers provide insight into change. They often live the shopping, dining and social media habits that directly reflect where retail is going.

WRA values both perspectives, and intentionally builds its team for tradition and innovation. I’m proud to be a part of a firm that is responsibly shaping next-gen professionals, and our industry, for the decades ahead. The balance positions us all for success.

Western Retail Advisors Adds Next-Gen Talent Amid Booming Arizona Retail Growth

Western Retail Advisors Adds Vice President, Senior Associate to Phoenix Team

Industry veteran Darrell Deshaw and up-and-comer Rachel Bliss grow retail brokerage

PHOENIX, Oct. 31, 2023 – Phoenix-based retail specialist Western Retail Advisors (WRA) has expanded its Phoenix brokerage team, adding industry veteran Darrell Deshaw as Vice President and Rachel Bliss as Senior Associate.

Deshaw brings 18 years of commercial real estate experience spanning over $400 million in nationwide investment sales and acquisitions for developers, investors and national franchise tenants. He also enjoys a track record of site selection, land and lease transactions, including the representation of national Quick Serve Restaurant (QSR) operators seeking high-value locations in emerging metro Phoenix submarkets.

As Senior Associate, Bliss specializes in site selection, market expansion planning, relocation strategies and lease negotiations for regional and national tenants and landlords. Currently, she represents 7Brew, Fleet Feet, The Ballpark, Tillys and Zoom Room.

“Corporate culture is extremely important to us, particularly our commitment to respect, integrity, teamwork and the pursuit of excellence,” said Western Retail Advisors Founding Partner Eric Termansen. “Darrell and Rachel embody all of these characteristics. We are excited to grow and achieve alongside of them, as we work to serve our clients at a time of unprecedented Phoenix retail demand.”

Recognized as a top-performing broker, Deshaw’s career spans brokerage and sales roles for leading national commercial real estate groups such as Kidder Mathews, CBC Advisors, NAI Horizon and CoStar Group. He holds dual bachelor’s degrees in International Business and International Marketing from Florida Atlantic University. He has been a member of ICSC since 2007.

Bliss joins WRA from Equity Retail Brokers, a highly regarded Philadelphia-based brokerage firm, where she covered retail markets in Delaware, New Jersey and Pennsylvania. She holds a bachelor’s degree in Business Administration from Drexel University. She is an active member of ICSC, NAIOP and Urban Land Institute.

From Los Arcos to Paradise Valley to Metrocenter, Phoenix- area mall sites are making a comeback

Corina Vanek
Arizona Republic
May 1, 2023

Metro Phoenix is in the midst of a mall renaissance.


Shopping malls were once a main venue for entertainment, attracting shoppers into large department stores, catering to a wide variety of people eating in the food court and boasting other offerings, like skate parks, movie theaters and arcades.

However, as shopping habits changed, many malls fell from their former status as a main gathering place, and many across the Valley faced the wrecking ball to make way for new development.

While many have shuttered, some have stood up to the changing retail environment. Others have even thrived.

“The classic mall, the enclosed, two-level, air-conditioned mall has changed,” David Uhles, senior vice president of Western Retail Advisors, said. “Shopping behaviors have changed and the demand for experiences has shifted.”

In most markets, Uhles said, a few high-caliber malls can stand the test of time. Those malls, which often include high-end stores, can generally afford the high operating costs that come with such a large retail footprint.

For other malls, which were anchored by lower-end department stores, shifts to online shopping and other changes proved too much to handle. Mall staples, like Sears or JCPenney, have closed hundreds of stores in the past few years, leaving many shopping centers with large, empty stores and nothing to fill them.

When a major anchor closes, Uhles said mall owners often are left with few options, but some of the most successful mall operators have embraced new uses or attract new-to-market offerings. The closing of Chandler Fashion Center’s Nordstrom location could have created a major problem, he said. However, the space was taken by sporting goods store Scheels, which will open its only Arizona location at the mall.Other uses of former anchor stores have included gyms or entertainment venues.

Across the Valley, former malls are part of some of the largest redevelopment efforts, making way for business hubs, medical corridors, attainable housing neighborhoods and more.

Malls that are no more
Some malls across the Valley already have closed, and the space they once occupied will get new life. Often, the redevelopment plans are heavily focused on apartments.

Los Arcos: The former Los Arcos Mall in south Scottsdale was an enclosed shopping mall that was open for about 30 years before its demolition in 2000. The site was pitched as a location for the Coyotes arena, but the team ultimately went to Glendale. In 2005, Arizona State University and the city of Scottsdale agreed to partner on the site, which would eventually develop into SkySong, a mixed-use development that is primarily offices,but includes a hotel, apartments, restaurants and common areas where events are held. Plaza Cos. and Holualoa Cos., the co-developers of SkySong, later partnered again on the redevelopment of Park Central Mall.

Tri-City: Tri-City Mall in Mesa closed in 1998 and was completely demolished in 2006. Portions of the former mall made way for the light rail,which runs along Main Street. Tri-City Pavilions, a strip retail center anchored by a Safeway, was built in its place.

Park Central Mall: Unlike other former malls, Park Central’s buildings were repurposed and reused, not demolished. Most department stores were repurposed as offices, but other uses have also taken some of the space, including EOS Fitness, which will open a location in a former department store. Much of the parking lot space at Park Central has new uses, including Creighton University’s medical campus and an apartment complex. Still to come is a hotel and room for additional buildings. Park Central and the area around it was recently designated as a bioscience hub, the “Phoenix Medical Quarter, Global Advancement of Health and Education.”

Metrocenter: Once the largest indoor mall in the Southwest, Metrocenter is scheduled to meet the wrecking ball soon, after a group of developers bought it and have planned to develop a mixed-use development oriented toward housing. The project will include more than 2,600 apartment units, 150,000 square feet of commercial space, and a parking garage. The apartments will be “attainably priced,” but rents are not yet determined. Housing will offer both rentals and for-sale options. Other elements will include restaurants, bars, a park, and commercial and entertainment venues.
Paradise Valley Mall: Redevelopment is already underway at the former Paradise Valley Mall, now renamed PV. Phoenix-based RED Development is leading the redevelopment of the site, and the first phase includes an apartment complex, a Whole Foods Market and a Harkins dine-in theater. Life Time, a luxury gym, announced plans to open a luxury residential and fitness concept at PV. The 11-story development will include 300 apartment units, planned to open in 2026. A Life Time “athletic country club,” which will have gym equipment, group fitness classes, a rooftop pool and hospitality deck and a spa is also part of the project.

Fiesta Mall: DriveTime owner Ernie Garcia II’s real estate investment firm, Verde Investments, bought Fiesta Mall in Mesa and has submitted plans to the city to redevelop the nearly 80-acre site that could make way for multifamily housing, office space, commercial and open space.

Malls that are still open

Some malls have continued to stand the test of time, often by embracing different types of stores into their spaces. Discount centers and grocery stores have proven to remain a driver for consumers to malls.

Christown Spectrum: The mall remains open but is subject to a long-term redevelopment plan, executives from Kimco Realty, the mall’s owner, said. Kimco has submitted plans to build an apartment complex on a parking lot, which formerly held a Costco Auto Center.

The apartment is the first piece of the redevelopment at the site, which is supposed to take decades to complete. According to Kimco’s submittal to the city, the redevelopment effort will likely take 20 to 25 years. Large tenants at the mall include Ross Dress for Less, Walmart and Walgreens, and those stores remain open. Target owns its location and is not part of the redevelopment plans.

Desert Sky: The west Phoenix mall remains open and has several large tenants, including a Dillard’s Clearance Center, Burlington, Bath & Body Works, Famous Footwear and several other stores. The mall is described as a fully bilingual location.

Arizona Mills: The Valley’s largest indoor outlet mall has survived in Tempe, offering discounts on various brands and other entertainment uses, including an aquarium and movie theater.

Top-tier malls

For the region’s best-performing malls, exclusive offerings, high-end stores and embracing changes are paramount.

Scottsdale Fashion Square: The mall has continued as a successful, enclosed shopping center, but has also had to adapt with anchor stores closing. Scottsdale Fashion Square has filled former anchor spaces with an Apple store and a coworking space. Life Time also opened a new location near the mall. The mall opened a luxury wing with ultra high-end stores in 2018, and in 2022 announced plans to upgrade the south wing of the mall, anchored by Nordstrom.

Arrowhead Towne Center: The large West Valley shopping center remains one of the region’s top-tier malls, while also feeling the sting of shuttered anchor stores. Forever 21, which had a large store at the mall, closed and left its space vacant. In 2015, Macerich, Arrowhead’s operator, announced a major renovation to the Glendale mall, which added some new stores and upgraded common spaces.

Replacing the vacated Nordstrom site with new-to-market Scheels will help the mall continue as a destination shopping site, adding an exclusive offering. The mall also has the Valley’s only Crayola Experience venue, which offers attractions and art experiences for kids and families.

‘Lifestyle centers’ becoming popular

Many outdoor shopping centers have taken the place of the traditional indoor mall in the Valley. Shopping centers like Kierland Commons, Scottsdale Quarter, Tempe Marketplace, Desert Ridge Marketplace and Biltmore Fashion Park have remained strong, and many have embraced the need for experiences, rather than strictly retail sales.

Open-air shopping has proved successful for Phoenix-based Vestar, which has announced plans to build several more shopping centers around the Valley, and continues to seek new sites.

Two new restaurants sign on to open at Village at Prasada shopping center in Surprise

Two new sit-down restaurants have been unveiled for the planned 700,000-square- foot shopping, entertainment and dining center in Surprise, Village at Prasada, which is nearly 100% leased.

The two new restaurants, Lou Malnati’s Pizzeria and Cold Beers & Cheeseburgers, will be located within the development’s restaurant row, Street Fare at Alexandria. This will be the eighth Lou Malnati’s location in the state, which will offer Chicago-style deep dish pizzas. Cold Beers & Cheeseburgers currently has a dozen locations throughout Phoenix.

The new eateries will add to a growing list of restaurants and tenants at the new $500 million shopping center, which the developer of the project, Scottsdale-based SimonCRE, says is the largest to be developed on the West Coast in a decade. Other restaurants moving in include Barrio Queen, Firebirds Wood Fired Grill, Cooper’s Hawk Winery & Restaurant and O.H.S.O brewery.

The major power center also sits next to the new Costco store, a planned hybrid health care facility and other retail options such as Black Rock Coffee Bar adjacent to the Loop 303 and Waddell Road. American Furniture Warehouse is also making plans to build a new 200,000-square-foot retail store just north of the shopping center.

The developer of the massive West Valley project said the new restaurant hub will provide residents with indoor and outdoor eateries with walkability and an open-air retail experience.

“It is really exciting to be bringing these restaurant concepts to the West Valley, an area that is growing at an exceptional rate,” said Joshua Simon, SimonCRE’s CEO, in a statement. “Anyone that lives in Surprise knows how long they currently have to drive to visit some of these existing restaurants’ locations, so being able to give them the food that they want in a center that is more convenient for them, that’s the dream as a developer.”

Village at Prasada will also house major retailers including Sprouts Farmers Market, Hobby Lobby, TJ Maxx, Marshalls, PetSmart, Burlington Coat Factory, and Ulta. It will also feature a restaurant row and a FatCats Entertainment facility next to a planned multifamily project with more than 500 units.

The project is part of Prasada, a 3,355-acre master-planned community with residential, employment, hospitality and retail in the fast-growing city of Surprise, which has increased in population by 72% since 2004.

More information about the Street Fare at Alexandria and Village at Prasada can be found on the Village at Prasada website. Additional updates can also be found via their Instagram account @villageatprasada. Ryan Desmond, Dave Uhles, Noah Anastassatos, Neil Board and Brian Gausden with Western Retail Advisors are listed as the leasing brokers for the shopping center.

SimonCRE, which was founded 12 years ago, is a full service commercial real estate development and acquisition company. The firm has developed and leased about 3 million square feet across the country and has about 50 projects, totaling approximately $300 million in construction planned for 2022.

Originally published by The Phoenix Business Journal on August 16, 2022.

Village at Prasada in Surprise gets 2 new restaurants

SimonCRE, a national commercial real estate development and acquisition firm, has released that it has signed two more restaurants, Lou Malnati’s and Cold Beers & Cheeseburgers, to be added to the Street Fare at Alexandria. Located in the upcoming retail center Village at Prasada in Surprise, this restaurant hub is centrally located to provide Surprise residents with indoor and outdoor eating opportunities with immense walkability, offering the open-air retail experience that many shoppers want today.

This will mark the 8th location for Lou Malnati’s in the state, bringing their Chicago-style deep dish pizzas to the Chicago transplants and Arizona natives that live throughout the West Valley. Cold Beers and Cheeseburgers currently has 12 immensely popular locations throughout Phoenix, and now brings their classic neighborhood burger joint aesthetic to the residents of Surprise, and Village at Prasada. These strongly desired restaurants join an already robust row of restaurants that includes OHSO Brewery, Barrio Queen, Firebirds, and Cooper’s Hawk. Surprise and West Valley residents have expressed an interest in more food options that are upscale, while still retaining a casual atmosphere. These restaurants will provide residents and shoppers with a welcoming location to meet with family and friends.

Developed with the residents of Surprise in mind, the Street Fare at Alexandria brings a variety of desirable food options that would otherwise require travel across the Valley for residents to access. Residents have previously indicated a desire for more variety in restaurant options for the West Valley, and SimonCRE worked hard in the process of developing Street Fare at Alexandria to deliver this dream.

“It is really exciting to be bringing these restaurant concepts to the West Valley, an area that is growing at an exceptional rate. Anyone that lives in Surprise knows how long they currently have to drive to visit some of these existing restaurants’ locations, so being able to give them the food that they want in a center that is more convenient for them, that’s the dream as a developer” said Joshua Simon, SimonCRE’s Founder and CEO.

“Village at Prasada really blends the best of both worlds, national retail choices coupled with local dining favorites that will serve as the premier dining destination for the West Valley,” said Ryan Desmond, Partner, Western Retail Advisors.

More information about the Street Fare at Alexandria and Village at Prasada can be found on the Village at Prasada website.

Originally published on AZ Big Media on August 23, 2022

Multiple commercial projects coming to Peoria

Press release provided by Harkins Theatres / Mark Boisclair
Originally published February 2, 2022

Scottsdale-based Harkins Theatres is looking to open another new location in the West Valley.

Big projects are on their way to Peoria, the fast-growing suburb just northwest of Phoenix.

The city has had several developments in the works over the past couple of years and dirt is finally moving at several sites that will result in new industrial buildings and other mixed-use projects including retail and office components.

Missouri-based VanTrust Real Estate is developing a 154,000-square-foot distribution center for Plano, Texas-based Frito Lay within the Peoria Logistics Park. The new facility is expected to employ about 100 to 150 people, according to the city.

Site plans say the facility will also have a future 40,000-square-foot expansion on the nearly 20-acre property, which is located on the southwest corner of 75th Avenue and Golden Lane near U.S. Route 60. It’s also in a proposed industrial and residential park comprised of nearly 350 acres that the city hopes will bring new jobs to the area.

“Some of our sites were tied up with people who weren’t actively marketing or actively trying to develop, so that kind of hamstrung us a little bit,” said David Valenzuela, chief business attraction officer for the city. “Once VanTrust entered into partnership with the Rovey [family], VanTrust has worked extremely quickly on RFPs to some brokers — that resulted in Frito Lay.”

In addition to Frito Lay’s new facility, Valenzuela said some small-to-medium sized speculative industrial buildings are planned for the area. A new site plan is currently under review for a 92,600-square-foot industrial facility and two multitenant office and warehouse buildings within the Empire Business Park, which is located near 91st and Grand avenues, according to the city.

New movie theater

On the retail side, a new dine-in movie theater and mixed-use project are also coming to Peoria. Scottsdale-based Harkins Theatres is currently building a 43,000-square-foot dine-in movie theater at the Lake Pleasant Towne Center. The theater will open in a space formerly occupied by Sports Chalet and include nine screens, according to the city.

“A lot of projects that were coming down the pipe, such as Harkins, had to wait obviously for pandemic conditions to change, but they always believed in that market for their product. They waited for the right moment and we’re there,” Valenzuela said.

Within the Peoria Sports Complex, the city is also working on a major plan amendment for a new mixed-use project called Stadium Point, which will be comprised of 500,000 square feet of class A office space with two buildings, two apartment or condo facilities, associated retail and a business-class hotel, the city said. This project will add to the limited available office space in the West Valley.

“That’s on track, which is a tremendous project at the sports complex,” said Jennifer Stein, interim economic development director for Peoria. “There’s a lot of momentum and activity and from an economic development standpoint, we’ve been working really hard with various partners and collaboration to bring additional amenities and assets to the community.”

‘Huge growth’

Zachary Pace, senior vice president with Phoenix Commercial Advisors, said the connection of Happy Valley Road with the Loop 303 and Interstate 17 has opened up the northwest Valley.

“There’s a huge amount of growth occurring up in this part of the Valley, both in the single family residential side and the multifamily side, which is driving retailers and restaurant sales,” said Pace. “You’ve got this pocket of wealth and density and growth in an area with serious demand and I don’t think enough services and retail services, and that’s why we’re seeing a lot of retailers and restaurants do well up there.”

Other commercial projects include The Trailhead, a proposed commercial shopping center with a Safeway as the anchor, restaurants and a multifamily project at the northeast corner of 83rd Avenue and Happy Valley Road, which has been in the works for years but has been under review by the city in recent months.

Meanwhile, Phoenix-based shopping center owner and manager Vestar is also planning to build a 90,000-square-foot shopping center called The Shops at Lake Pleasant, which will be located adjacent to another Vestar property, Lake Pleasant Towne Center, located near Happy Valley Road and Lake Pleasant Parkway. Tenants for the projects have yet to be announced.

Audrey Jensen
Reporter
Phoenix Business Journal

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