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

K. Hovnanian got into a bidding war with Lennar last year for 72 acres of state land in Peoria at Happy Valley and Lake Pleasant parkways. (Photo via Arizona State Land Department)

(Photo via Arizona State Land Department)

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.”

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