Search
 

Metrocenter Mall Revitalization Continues

PHOENIX—Walmart announced plans to build a Supercenter at the iconic Metrocenter Mall, near I-17 and 35th Avenue, in northwest Phoenix. Work on the project is expected to begin in the first quarter of 2015 with the demolition of the former Broadway building, which has been vacant since 2006.

By Kristian Seemeyer | Updated on June 25, 2014

PHOENIX—Walmart announced plans to build a Supercenter at the iconic Metrocenter Mall, at I-17 between Dunlap and Peoria in northwest Phoenix. Work on the project is expected to begin in the first quarter of 2015 with the demolition of the former Broadway building, which has been vacant since 2006. This marks the single largest capital investment in Metrocenter Mall in decades.

Metrocenter Mall opened in 1973 as the biggest shopping center in Arizona and one of the largest nationwide. As previously reported by GlobeSt.com, recent years saw Metrocenter challenged by the establishment of competing regional malls, changing shopping patterns and the Great Recession. Now, Metrocenter Mall owner Carlyle Development Group, the City of Phoenix and community leaders are intent on bringing new life to the area. In mid-March, the Phoenix City Council unanimously approved a redevelopment plan that will, over the coming decade, guide land use, infrastructure upgrades and public transportation for a 2,500-acre area, including Metrocenter Mall. Currently, the retail vacancy rate in the vicinity averages 28 percent, more than double the citywide figure.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.