GLENDALE, AZ-Cabela's Inc. is finalizing plans to build a 160,000-sf superstore on 28.6 acres in Zanjero, a 151.5-acre commercial project at the northwest corner of 91st and Glendale avenues.
Zanjero, owned by Las Vegas-based Citation Land Co. LLC, is near Loop 101, Westgate, Glendale Arena and Cardinals Stadium. The project's master plan calls for 23 acres of multifamily development and 45 acres of retail projects. Land in Zanjero is selling for $6.50 per sf to $15 per sf, according to industry experts.
The Sidney, NE-based Cabela's first Valley store will be open by late 2006 or early 2007. The store is projected to cost between $40 million and $80 million, according to Chris Gay, Cabela's treasurer. He says the retailer is working with the city and state to obtain economics incentives to help cover the cost of the store, expected to draw more than four million annual visitors. "Typically, incentives cover about one-third of the cost," he tells GlobeSt.com, "and I can tell you that the incentives for this store are a little less than one-third."
Cabela's president and CEO Dennis Highby says Arizona residents "live the Cabela's lifestyle with great passion and enthusiasm." The retailer will hire as many as 400 people to staff the new Arizona store, according to today's press release.
The Arizona store is the eighth location that the 11-store Cabela's has committed to develop in the past year. The retailer will be building stores in Buda, TX; Lehi, UT; Rogers, MN; Gonzales, LA; Wheat Ridge, CO; Reno, NV; and East Rutherford, NJ.
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