Riverview buildout schedule cut 5 years - East Valley Tribune: News

Riverview buildout schedule cut 5 years

Print
Font Size:
Default font size
Larger font size

Posted: Sunday, November 4, 2007 10:51 pm | Updated: 7:35 pm, Fri Oct 7, 2011.

Mesa Riverview developers said they will complete construction on the 250-acre commercial center five years ahead of schedule.

Located between Dobson and Alma School roads south of Loop 202, Mesa Riverview will reach buildout sometime in 2010, officials from Phoenix-based De Rito Partners said. Under the original construction schedule, work would have finished in May 2015.

Marty De Rito, the firm’s president, said progress has sped along faster than he expected because of the center’s mixed-use format, with 33 acres of auto dealerships, 450,000 square feet of future office space, a 150-room hotel pad and 1.3 million square feet of retail space.

“If it would have been 250 acres of retail, we probably wouldn’t have been able to build out as quick as we did ... especially with the redevelopment of Fiesta Mall or the Tempe Marketplace,” he said.

Patrick Murphy, a senior vice president with commercial brokerage firm CB Richard Ellis, said the quickened pace demonstrates that there’s still a very strong market for large centers along major freeway corridors.

“Obviously, it shows the strength of the market if you can finish five years ahead of schedule,” he said.

Murphy said faster openings are becoming more common, citing Desert Ridge Marketplace in Phoenix and Tempe Marketplace as examples. Murphy said retailers like to time their openings together, so when a few announce advanced opening dates, a snowball effect tends to occur as their neighbors scramble to open at the same time.

“It just starts building and building and building,” he said.

De Rito said Riverview’s retail component is about 85 percent leased with about 65 percent of the stores open including Bass Pro Shops Outdoor World, Wal-Mart and the Cinemark Mesa 16 movie theater.

Construction on Riverview’s auto mall and 450,000-square-foot office complex has started, and plans are moving ahead on a four-story Hyatt Place hotel.

Open Now:

Cinemark Mesa 16

Chili’s Grill & Bar

Big Stick Cigars

Bed Bath & Beyond

Cracker Barrel Old Country Store and Restaurant

Home Depot

Bass Pro Shops

Jo-Ann Fabrics and Crafts

Petco

Rubio’s Mexican restaurant

Blame it on the Wine

Marshalls

Opening by year’s end:

Famous Dave’s Barbeque Ribs and Sauces

Gentlemen Joe’s Barber Shop

Rich Aroma Coffee Co.

Great Clips

Red Brick Pizza

Opening in 2008:

Johnny Rockets

Jamba Juice

24 Hour Fitness

Danny’s Family Car Wash

Golden Corral

OfficeMax

Ski Pro

Toyota at Riverview

Riverview Nissan

  • Discuss

Facebook

EastValleyTribune.com on Facebook

Twitter

EastValleyTribune.com on Twitter

Google+

EastValleyTribune.com on Google+

RSS

Subscribe to EastValleyTribune.com via RSS

RSS Feeds

Spacer4px
Your Az Jobs