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Phoenix's burned-down Safeway shopping center to be redeveloped with $18M

  

A big investor plans to spend $18 million redeveloping a Phoenix shopping center, where storm damage caused a Safeway to burn down last summer

Scottsdale-based SimonCRE paid $3.2 million Monday for the 15-acre Park Northern shopping center on the northeast corner of 35th and Northern avenues.

 

VASA fitness center planned

It plans to bring new tenants to the north central property, including a 60,000-square-foot VASA fitness center to the former grocery-store spot. The store has been empty since the fire.  

Safeway decided last summer not to reopen after the three-alarm fire. The grocery store-chain had operated a store there for more than 30 years.

Many neighbors were upset by Safeway's decision not to reopen.

“We’re grateful for the opportunity to rebuild a neighborhood center that needed a restart,” said Joshua Simon, CEO of SimonCRE.

The first phase of the shopping center’s redevelopment is expected to be done in early 2021.

 

Featured in azcentral (Original article)

Redevelopment Acquisition Announcements Seller Tenant Broker Buyer