The 744,000 sq ft power center will be 50% larger than the just announced Verrado Marketplace.
San Diego-based developer Sunbelt Investment Holdings Inc, also known as SIHI, is looking to build a similar retail center that could be anchored by Costco and comprise 18 buildings of various sizes totaling 411,000 square feet, according to a new brochure of the property. Besides the previously announced Costco, plans call for an additional 8 major tenants and 6 outlet stores + shops.
City documents said the company is the owner of about 75 acres and plans to develop a “major retail center” called Buckeye Commons, which will include a number of large retail tenants. The agreement said the city will reimburse up to $7.98 million for public infrastructure improvements such as installing a permanent four-lane street with various components, a traffic signal at Jackrabbit Trail and Roosevelt Street.
The infrastructure improvements, about $900,000 of which will be paid for by Ed Key Schools, will support both the future retail center and the region, documents added.
SIHI did not immediately respond to a request for comment. Zachary Pace, Greg Laing and Teale Bloom of Phoenix Commercial Advisors are listed as the leasing agents for the property.
Entrance to Verrado will be jam-packed with new business and services
The Buckeye Commons property is part of a fast-growing intersection that will soon be home to a 330,000-square-foot Banner Health hospital, an Abrazo Health medical campus and a $125 million, 500,000-square-foot shopping center known as Verrado Marketplace.
Experts have previously said the upcoming intersection will be the hottest in the Valley, especially in the West Valley. Verrado, an 8,800-acre master planned community north of the intersection, has about 6,000 homes and limited retail.
The property is also adjacent to Sequoia Pathfinder Academy and Summit Community Church.
Buckeye, which has 101,315 residents, has historically been an underserved retail market, but city officials and real estate experts have said the city needed to meet a population threshold before companies started bringing more retail to the area.
Watch this space for more details on which tenants will be leasing space in the new center.
See the original story at the Phoenix Business Journal
Great news! Anyway you can convey to Trader Joes that they need to be in one of these new developments please do so! 😊
Lynda,
Go to https://www.traderjoes.com/home/contact-us and tell them! I’ve already sent TJ’s 3 messages including the names of the leasing agents!
Yes please we need a Trader Joe’s.