Real estate development company DMB Associates — in partnership with privately held shopping center owner and manager Vestra — recently announced a line of notable anchor tenants that committed to greater Phoenix retail space at the Verrado Marketplace that is currently in development in Buckeye, Ariz.

Marking a significant milestone in the project’s progress, the partnership revealed that national retailers Target, Harkins BackLot, Safeway, Marshalls, Ross, and HomeGoods would be anchoring the 500,000-square-foot, open-air retail center, which is expected to open its doors in late 2025.

Bringing Vestar’s signature shopping, dining, and entertainment experience to the heart of Buckeye, Verrado Marketplace aims to become a premier location for residents to shop, dine, and socialize within their community.

Within its 75,000-square-foot space, Harkins BackLot will include a luxury movie theatre; a full-service restaurant and bar with a state-of-the-art sports viewing arena; arcade games for all ages; a bowling alley; and private areas for parties and events. Verrado Marketplace will reportedly be the first location for the new build of the “BackLot” concept to open in Arizona.

Target will also be bringing its newest prototype to Verrado Marketplace, including the department store’s various shopping options to buy online and pick up at the store. Specifically, Target will occupy 147,000 square feet of retail space in Buckeye with excellent visibility from Interstate 10. Located on the southeast corner of the development, Target will open adjacent to Marshalls, Ross, and HomeGoods, which are slated to occupy a combined 70,000 square feet of retail space.

The project will also include gathering spaces throughout the development, as well as a central lawn designed to provide a versatile space for concerts, community events, and social gatherings.

“We are thrilled to welcome Target, Harkins BackLot, Safeway, Marshalls, Ross, and HomeGoods to Verrado Marketplace,” said Jeff Axtell, executive vice president of development at Vestar. “With the addition of these premiere anchor tenants, we are confident that Verrado will become more than just a retail destination, but also a community hub for social interaction and entertainment.”

Located at the entrance to DMB Associates’ 8,800-acre, master-planned community of more than 6,800 homes, Verrado Marketplace is expected to bring in more than $50 million in total tax receipts to the city of Buckeye and result in an economic output of $1.8 billion throughout the next 10 years. Meanwhile, the retailers and restaurants in the regional shopping center are expected to generate nearly 1,500 permanent jobs.

Verrado is one of five such projects that are currently under development by Vestar across Arizona. The list also includes Vineyard Towne Center, Queen Creek Crossing, Laveen Towne Center, and The Shops at Lake Pleasant.

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