Jeffrey Garza Walker, director of new business and development for PC & Development LLC, says the project at 83rd Avenue and Palm Lane is already 88% leased. The grocery store lease is Hacienda Market's largest to date.
"We're moving into the larger grocery market arena with this store and trying to compete with the larger food stores," Garza Walker explains. "What's unique about this is we're trying to combine a Hispanic grocery center with a Whole Foods concept."
Plaza Mayor's projected completion is April. But while buildings are going vertical on the 5.2-acre site, PC & Development also will break ground on a second shopping center at 35th Avenue and Baseline Road in Laveen. Much like Plaza Mayor, the 118,745-sf Laveen Village Center will cater to the Hispanic population. Laveen Village will be a lifestyle center rather than a neighborhood center. Garza Walker says there have been preliminary talks with the Phoenix leaders about putting a similar center at Central Avenue and Broadway Road near the CBD.
Garza Walker tells GlobeSt.com that the goal is to develop at least one center per year. After five are opened in the Phoenix area, the team plans to expand to other Arizona cities. "The ideal site for us has a cross-demographic appeal," he says. "We're targeting Hispanic areas, but we like those with a third-generation crossover too." Additionally, the developer is looking for a minimum of five acres, preferably hard corners on streets with high traffic counts and near populations with a median household income of $48,000 a year.
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