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Phoenix — Vestar has acquired 20 acres from the Arizona State Land Department in Phoenix, with plans to build a more than $50 million retail center. Dubbed Black Mountain Village, the new development will feature approximately 120,000 square feet of retail space that will be anchored by a 65,000-square-foot grocery store alongside a mix of restaurants, shops and service-oriented businesses. Black Mountain Village will also incorporate pedestrian-friendly walkways, shaded outdoor gathering areas and extensive landscaping throughout the project.
Planning and designs are currently underway and additional project details, including tenant announcements and development timelines, will be shared in the coming months.