X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

CASA GRANDE, AZ-Evergreen Development and Diamond Ventures in Tucson have joined forces to begin commercial retail projects in Villago, a 1,700-acre master-planned community. The partnership, which will develop Villago’s 100 acres of commercial dirt, has broken ground on the $22 million, 160,000-sf Villago Marketplace and the $8 million, 11-acre Villago Village.

Villago Marketplace, situated on 23 acres at McCartney and Pinal Roads, has Fry’s Marketplace as the anchor tenant, which will occupy 107,000 sf. McDonald’s Corp., Fry’s Fuel Center and J.P Morgan Chase & Co. have taken pad sites, with one site remaining.

According to Gregg Alpert, chief operating officer with Phoenix-based Evergreen Development, pre-leasing on Villago Marketplace’s remaining 45,000 sf of inline space is going very well. “We’re just pushing dirt now and are probably at about 50% commitment on the inline shops, which is a great place to be,” Alpert says.

Villago Village, which is across the street from Villago Marketplace, will be anchored by a Walgreens Co., a Tutor Time Learning Center and a Wells Fargo & Co. branch. Both centers will be operational by mid-2008.

Alpert tells GlobeSt.com that the two retail projects are happening in conjunction with development of Villago’s first 1,000 residential units. As residential development continues, Evergreen and Diamond will build a power center and neighborhood shopping center two miles north of the current projects on Pinal Val Vista Roads. “We’re building all the centers to serve the future residential growth,” Alpert notes.

He says that right now preliminary planning and discussion is underway on the future projects, with no specific groundbreaking plans at this time. The power center, he notes, will be anchor-tenant driven, with development plans firming up as tenants are signed. “There’s been a lot of interest from users on all fronts,” he adds. “We expected the interest, but we were surprised by the velocity of it.”

Butler Design Services of Phoenix is the architect for Villago Village and Villago Marketplace, while Infrastructure Design, another local firm, is the general contractor. Volk Co. in Tucson is the leasing agent.

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
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

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 © 2020 ALM Media Properties, LLC. All Rights Reserved.