Anchored by Costco, Buckeye Commons breaks ground in Verrado

Alexandra Hardle, Arizona Republic
·2 min read

Buckeye’s development hotspot Verrado is one step closer to having a new shopping center, anchored by Costco.

San Diego-based Sunbelt Investment Holdings celebrated the groundbreaking for Buckeye Commons, a new shopping center in Verrado.  It will have over 410,000 square feet of retail space.

Sunbelt Investment Holdings has developed 18 shopping centers in Southern California and four in Arizona, including Queen Creek District and Village at Arrowhead in Glendale. The company is also an industrial developer in metro Phoenix, with over 2,400 acres of business park ready for development.

Last year, the city celebrated the opening of a 161,000-square-foot Costco, which had been anticipated for over two years. Around 300 people lined up for the opening. Some of whom had been there for two days.

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Costco will serve as the anchor of the shopping center, which is located at the southeast intersection of Verrado Way and Interstate 10.

The intersection has become a hub in Verrado. Across the street, Abrazo Community Health Network is moving forward with the development of a 27-acre medical campus at the southwest corner of Verrado Way and Interstate 10. Sunbelt Investment Holdings is also planning another retail center called Buckeye Commons West.

Banner Health is also developing a hospital at the northwest corner of the intersection, which will be adjacent to an existing Banner Health Center.

At the northeast corner of the intersection will be Verrado Marketplace, a highly anticipated mixed-use retail, dining, and entertainment center developed by Phoenix-based Vestar with DMB Associates. Vestar has developed similar centers around the Valley, including Tempe Marketplace and Queen Creek Marketplace.

At Buckeye Commons, leases have been executed so far with Over Easy, Starbucks, Jimmy John’s, The Joint Chiropractic, State Farm and DIP Nail Bar. Leases are currently in negotiation with eight other tenants. In combination, those retailers would represent about 60% of Buckeye Commons’ first phase.

The first store openings for Buckeye Commons are expected in mid-2025.

Reach the reporter at ahardle@gannett.com or by phone at 480-259-8545. Follow her on X, formerly Twitter: @AlexandraHardle.

This article originally appeared on Arizona Republic: A new Costco-anchored shopping center is coming to Buckeye