Valley-based developer buys land in Peoria with plans for project featuring a ‘specialty grocer’

Scottsdale-based SimonCRE is buying a Peoria property for a commercial project that “will feature a specialty grocer.”

BY HAILEY MENSIK/PHOENIX BUSINESS JOURNAL

Jul 11, 2026, 5:44 AM Updated: 2:10 pm

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Scottsdale-based SimonCRE is buying another West Valley property for a commercial project.

The developer is under contract to acquire a 6.2-acre site at the southeast corner of Lake Pleasant Parkway and West Yearling Road in Peoria from homebuilder K. Hovnanian, according to CEO Josh Simon.

A rezoning item for a mixed-use project there is heading to Peoria’s Planning and Zoning Commission and will be up for discussion at a July 16 meeting.

According to a city notice for a June 3 community meeting, the commercial component “will feature a specialty grocer.”

This story is posted in partnership with Phoenix Business Journal. Click to read the full story.