Rise of the power centers

The next wave of major retail development is in full swing in the West Valley

Western Retail Advisors Partner Ryan Desmond recently spoke to the Phoenix Business Journal about the booming West Valley retail market, discussing the submarket’s existing retail inventory and the retail projects to come. Read on for an excerpt of that story. Access the full article at the Business Journal here.

The West Valley has become the retail darling of metro Phoenix, as a flurry of proposed projects west of Interstate 17 move into the construction phases.

The next wave of retail deliveries is expected to arrive in 2026, with major developments including the Prasada shopping centers that will be fully built out in Surprise and the highly anticipated Verrado Marketplace in Buckeye.

“You’re seeing a lot of projects in full swing,” said Ryan Desmond, partner at Western Retail Advisors.

Now major employers such as Taiwan Semiconductor Manufacturing Co. and Amkor Technology Inc. are bringing thousands of employees and their families to the area, especially in the northwest part of the Valley.

“It kind of creates a bit of a virtuous circle, so you’ll see additional need for retail growth as a result of that,” Desmond said.

In the far future, retail growth will continue to push to the outskirts of the Valley west of the White Tank Mountains near Sun Valley Parkway, where major master-planned communities such as Teravalis are being developed.

Outside of the West Valley, Desmond expects retail to continue growing in the southeast part of metro Phoenix toward San Tan Valley and Florence, where there’s an abundance of land.