By Russ Wiles | Arizona Republic
Arizona has added nearly 1 million people over the past decade or so, yet hardly any sizable shopping centers were built over that span.
But that’s about to change in a notable way next year when mall operator Vestar breaks ground on three new open-air shopping centers — two in Queen Creek and one in Peoria, all on undeveloped land. The projects are slated to open late next year or in early 2023.
Helped by strong economic tailwinds and little new retail construction of late, the Phoenix-based company is seeing “unprecedented demand” for rentable space at its 18 existing outdoor malls in Arizona, said David Larcher, Vestar’s president and chief operating officer.