Retail developers count rooftops, and Buckeye is one of the nation’s fastest-growing cities. Buckeye’s population has increased by over 41% since the 2020 census to over 131,000.

The Phoenix Business Journal reports Pederson Group is planning to build an over 100,000-square-foot retail complex anchored by Safeway at the northeast corner of Canyon Springs Boulevard and Sun Valley Parkway within the Festival Ranch master-planned community.

Pederson purchased the 15-acre site where it plans to build the new shopping center from Festival Ranch’s developer, PulteGroup, for $2.5 million.

Festival Ranch Marketplace is expected to open at the end of 2027 and will include other retail, dining and service tenants. Butler Design Group is the architect.

Pederson’s expected development costs for Festival Ranch Marketplace are $45 million. Phoenix Commercial Advisors’ Zach Pace and Cameron Warren are handling leasing.

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