Shopping Center Business (May 2023): Developing Communities

Pure retail development isn’t unheard of today, but it does seem rare. So it’s notable when a growing population creates a need for new retail. Vestar has found that need in suburban Phoenix, where the company has three new centers under construction, one about to break ground and another planned in the coming years. Over 1 million people have moved into the Valley of the Sun in the past 10 years, with little new retail development.

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Source: SBC (May 2023)