Officials say the sale indicates optimism for the Southwest Valley
By Corina Vanek | Phoenix Business Journal
The purchase of a 40-acre retail complex and nearby land in Goodyear indicates optimism for the Southwest Valley, city officials said.
Cleveland-based Stark Enterprises bought The Market at Estrella Falls, at the northeast corner of PebbleCreek Parkway and McDowell Road for $49.1 million from the Macerich Co. and Globe Corp. The sellers still own property east of the area.
Plans for the area include developing 10 additional acres for shopping, dining and entertainment in front of the 25-acre shopping center, Goodyear spokeswoman Sherine Zaya said in a press release. HomeGoods, TJ Maxx and Cal Ranch are already tenants at the property, as well as Oregano’s, which Zaya said is the restaurant’s busiest location in Arizona.
