Vestar sold the recently-completed Vineyard Towne Center in Queen Creek but will continue to manage the property on behalf of the new owner, Fidelity Core Real Estate Operating Partnership. The Phoenix Business Journal reports the company paid $69.6 million for the center. Construction on Vineyard Towne Center was completed in early 2026. The center was already 100% leased before it officially opened.
Vestar started construction on the 260,000-square-foot development in 2021 and built it in two phases. Vestar said the total development cost of the centers was $100 million.
Besides Target, the center is filled with national, regional and local tenants including Sprouts Farmers Market, Mountain America Credit Union, Academy Bank, LifeQuest, Mattress Firm, Zara Nail Bar, Dentists of Queen Creek, Keep It Cut, European Wax Center, Five Guys, Better Buzz Coffee, Thai Chili 2Go, McDonald’s, Over Easy, Café Rio, Cinnaholic, Zaxby’s, Nekter Juice Bar, Mr. Pickle’s Sandwich Shop, Wingstop and Ono Hawaiian BBQ.
The post Vestar Offloads Queen Creek Retail Center, To Manage Property appeared first on Connect CRE.
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