Vestar to develop Buckeye retail center next to proposed Costco, hospitals

Verrado sign.jpg
Posted at 9:39 AM, May 11, 2022
and last updated 2022-05-11 12:39:05-04

Two giant real estate developers will bring a $125 million retail shopping center to what could become the hottest intersection in the West Valley.

Scottsdale-based DMB Associates — the master developer of the 8,800-acre Verrado master-planned community — is partnering with Phoenix-based Vestar — the largest privately-held shopping center developer in the country — to develop a shopping center at Verrado's entrance in Buckeye.

To be called Verrado Marketplace, the retail center at the northeast corner of Interstate 10 and Verrado Way is expected to begin construction by the middle of 2023 and open during the third quarter of 2024, said David Larcher, president and CEO of Vestar.

It will be developed along the lines of Vestar's Desert Ridge Marketplace and Tempe Marketplace, with restaurants, retail and large public outdoor spaces rich in amenities to serve as a gathering spot for surrounding communities, he said.

Read more of this story from the Business Journal.