One of the Valley's fastest growing areas is adding more retail space.
Phoenix real estate developer Evergreen Development recently acquired more than an acre of ground on the northeast corner of Happy Valley Road and North Lake Pleasant Parkway in Peoria to build a multi-tenant retail building. Dubbed Shops at Lake Pleasant, Evergreen plans to break ground this month.
The planned 7,550-square-foot building will be directly across from Lake Pleasant Towne Center. Lake Pleasant Pavilion is located at the southwest corner of Happy Valley Road and Lake Pleasant Parkway.
According to a news release, The Shops at Lake Pleasant are already 70 percent leased, with future tenants Tender Dental, Delia’s Cleaners, Sprint and Herbal Nails planning to move in.
“This property is incredibly well-located and is in a high-traffic retail zone, with several high-quality stores, restaurants and amenities in the area, including the impressive new Fry’s Marketplace store,” said Laura Ortiz, Managing Principal of Evergreen Development. “We’re very excited to begin building out this parcel and bringing additional retailers and services into the center’s mix.”
Old Town Peoria is experiencing a rebirth with a revitalization plan set into motion by council. The city recently purchased of three parcels of land to redevelop. There are also plans for a new 120 acre community park near West Wing Mountain.
Phoenix-based Vertical Design Studios is the architect for Shops at Lake Pleasant. Phoenix-based GCON, Inc. is the general contractor.