Queen Creek Marketplace Celebrates First Birthday

by Press Release

Queen Creek, AZ - As a silver lining in the cloudy economy, this month Queen Creek Marketplace celebrates one year of convenient shopping, improved traffic, public art and a valuable revenue stream to the Southeast Valley.

The shopping center opened in March 2008 as the region's first large-scale retail destination and has welcomed more than 500,000 shoppers in 12 months. At Rittenhouse and Ellsworth Loop roads, the project remains an impressive 85 percent leased, providing much-needed revenue to the town of Queen Creek and delivering long-awaited convenience for the surrounding communities.

"Both Vestar and the tenants at Queen Creek Marketplace are thrilled with the support we've received from the Queen Creek residents and neighbors," said Ryan Desmond, Vestar's project manager. "Despite the economy, this project continues to grow, is offering residents convenient shopping and is delivering much-needed revenue to the Town for essential city services."

Since opening, the center has hosted a number of seasonal special events, including "Snow in the Summer" last August, "Trunk or Treat" last Halloween, and a number of holiday events.

Queen Creek Marketplace is anchored by SuperTarget, Kohl's, PetSmart, Ross Dress for Less, Bed Bath & Beyond, Stein Mart and Sport Chalet. Other tenants include:

• Alltel Wireless
• BevMo!
• Bikes Direct
• Chase Bank
• Chipotle Fresh Mexican Grill
• Cost Plus World Market
• Famous Footwear
• Frazee Paint
• Great Clips
• Justice for Girls
• Massage Envy
• Mattress Firm
• Office Max
• Paradise Bakery
• Peach Tree Dental Group
• Red Brick Pizza
• Saba's Western Wear
• Tilly's
• Tips n Toes Nail Spa
• ULTA
• Verizon Wireless

In addition, 2B Wireless, Chick Fil-A, Yogurt Jungle and Macayo's are expected to open soon.

Beyond the fabulous retail and restaurants, the construction of Queen Creek Marketplace also improved traffic in the area via the widening Rittenhouse Road and the creation of Ellsworth Loop Road, two major arteries in the Southeast Valley community. The road improvement project was a landmark partnership with the Town that delivered expedited infrastructure improvements to the town via shared cost and private construction. The result is a grade-separated railroad crossing that saves commuters time, and is a safer alternative to the traditional railroad crossing with drop-down barriers that delay traffic when the train passes. It's the only such crossing south of Loop 202 that allows drivers to avoid train delays.

The road work was completed last summer in conjunction with the Town's Improvement District.

Vestar Development Co. also installed three major art pieces at Queen Creek Marketplace - the largest collection of art displayed in any private development in town. Vestar has a longstanding commitment to enhance its retail centers with art and aesthetic enhancements that reflect the surrounding community. Each of the pieces was inspired by history and lore of the area.

Queen Creek Marketplace is estimated to generate more than $80 million in sales tax revenue for the community's police, fire, parks and other municipal needs over 20 years.

Vestar Development Co. has been nationally recognized for pioneering innovative public/private partnerships and is responsible for building many of the largest and most successful open-air retail centers in Arizona and southern California. Known for its conscientious approach to developing environmentally sensitive and wildly entertaining properties, Vestar has established new benchmarks for working with neighborhood groups, communities and municipalities that address community needs, generate important tax revenues and foster goodwill on all levels. It launched the largest sustainable building initiative of its kind, GreenStar, in April 2008 to national acclaim.

One of Vestar's most notable projects is the award- winning Tempe Marketplace, a 1.3 million-square-foot regional entertainment, lifestyle and power center. Tempe Marketplace is unlike any other shopping center in Arizona and represents an evolution in shopping center development. The project occupies 117 acres and offers strategically integrated shopping, dining and entertainment in a festive, pedestrian oriented, town center environment.