New Metrics, Tenants Show Desert Ridge Marketplace Flourishing In Age of Amazon
In the era of Amazon when online shopping is flourishing and many shopping centers and malls are failing, Desert Ridge Marketplace is doing just the opposite. It is thriving, currently up nearly 40 percent over the past five years, and has evolved to be much more than just an outdoor mall, but an experience.
Desert Ridge Marketplace is conveniently located in Phoenix, adjacent to the Loop 101 on Tatum Boulevard. With the completion of a $22 million renovation, more than 300 community events a year, 100 retailers and chef driven restaurants, entertainment for all occasions, Desert Ridge Marketplace has developed into a center with depth and dimension, and continues to flourish as other area shopping centers close.
The shopping center owner behind Desert Ridge Marketplace, is the nationally recognized and Phoenix based retail real estate company, Vestar. The company currently owns and operates 18 different retail centers in Arizona with more than 30 million square feet of total property throughout the western United States.
In addition to Desert Ridge Marketplace’s surge, it’s sister property, Tempe Marketplace has seen a rise of 45 percent in sales over the past five years.
“Between the millions we’ve spent in renovations, the diverse programming with 300 unique events offered each year to the top tier success of our retailers, Desert Ridge Marketplace is positioned to have one of its best years yet and we know there a number of factors we can credit right now for this increase in business,” said Vestar President, David Larcher.
Desert Ridge Marketplace has 12 new tenants coming to the center, totaling more than 100,000 square feet, within the next several months. One of these include H&M with more nationally recognized fashion retailers to be announced soon.
Of the new tenants, one of the most anticipated openings is Copper Blues Live, a restaurant and venue distinct in the Valley. One side is a restaurant- a full-size eatery, bar and hotspot offering nightly entertainment from local bands, acoustic acts and DJs. The other side boasts as a dynamic state-of-the-art music, comedy and multi-use venue.
Some of Desert Ridge Marketplace’s other updated amenities include bocce ball courts, children’s play areas, EV charging stations, a splash pad, state-of-the-art video walls, complimentary wifi, and much more.
“We have several big boxes that normally produce the best numbers out of all their stores in the market, if not the highest numbers,” said Larcher. “Every year the numbers continue to prove that big boxes have the ability to succeed here, contrary to conventional wisdom on the future of these big stores.”
Desert Ridge Marketplace is also attracting locally owned chef driven restaurants, recently adding Barrio Queen, The Whining Pig Beer & Wine Bar and Flower Child to the list.
Finally, Larcher noted the number of large private and Arizona state land department sales in the past year, resulting in a substantial number of new homes and residents in the trade area.
For more information about Desert Ridge Marketplace and a full list of events, visit shopdesertridge.com.
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