Verrado Marketplace holds groundbreaking in Buckeye, reveals more tenants
Nov 20, 2024, 6:00 PM
PHOENIX – Construction is officially underway at the site of Verrado Marketplace, a future West Valley shopping and entertainment landmark.
A groundbreaking ceremony marking the milestone was held Wednesday morning at the northeast corner of the Interstate 10 Freeway and Verrado Way in the burgeoning Phoenix suburb of Buckeye. The development is on the southern edge of the Verrado master-planned community.
“As one of Verrado’s very first residents, I’ve driven past this vacant lot for over 20 years,” Buckeye Mayor Eric Orsborn said in a press release. “I couldn’t be more excited to finally see this land transformed into the vibrant destination we’ve always envisioned.”
What businesses will occupy Verrado Marketplace?
The 500,000-square-foot shopping center previously announced that it will be anchored by retailers Target, Ross, Marshalls and HomeGoods along with supermarket Safeway and Harkins Backlot, a new entertainment concept from the Valley-based movie theater chain.
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Another 18 tenants were revealed during the groundbreaking ceremony:
- ULTA Beauty
- Famous Footwear
- Buckle
- Salt Tacos + Tequila
- Bath & Body Works
- Shake Shack
- Handel’s Ice Cream
- Nekter Juice
- See’s Candies
- Thai Chili
- Einstein Bros. Bagels
- Tropical Smoothie
- Hawaiian Bros
- European Wax Center
- Zara Nails
- Pacific Dental
- America’s Best Contacts & Glasses
- Mountain America Credit Union
When will Verrado Marketplace open in Buckeye?
The first Verrado Marketplace businesses are expected to open in spring 2026.
The open-air mall is owned and developed by Vestar in partnership with DMB Associates. It will be home to more than 50 retailers and restaurants when it’s fully built and occupied. The plans include a central lawn, a live performance stage, outdoor fireplaces, a splash pad and other welcoming touches.
David Larcher, Vestar’s president and CEO, called Wednesday’s groundbreaking “a historic moment for Buckeye.”
“This shopping center will offer a dynamic mix of premium retail, dining and entertainment, along with large gathering spaces that will serve as a community hub for both the Verrado community and entire West Valley,” he said in the release. “As the first of its kind in this region, we look forward to Verrado Marketplace becoming a landmark for this rapidly growing community.”
Vestar already operates multiple shopping centers across the Valley, including Desert Ridge Marketplace in Phoenix, Tempe Marketplace and Queen Creek Marketplace.
According to projections, the $275 million Verrado Marketplace will generate over $50 million in total tax revenue for Buckeye and contribute an estimated $1.8 billion in economic output in 10 years. In addition, it’s expected to create more than 1,500 permanent jobs.
“The date-night restaurants, entertainment and retail that Buckeye residents have been asking for and truly deserve will soon be right in our backyard,” Orsborn said. “This Vestar development will elevate Buckeye as the place to be in the West Valley and help drive growth throughout the entire city.”
