Pederson Group Debuts Plans for Festival Ranch Marketplace in Buckeye

Plans are in the works for Pederson Group's newest commercial development: a 114,000-square-foot upscale shopping center at the northeast corner of Canyon Springs
Boulevard and Sun Valley Parkway.

Festival Ranch Marketplace will feature Safeway as the anchor tenant, along with other retail and services catered to an underserved market.

Pederson Group purchased the shopping center land from Pulte Group, developer of the 10,105-acre Festival Ranch master-planned community.

"For years, one of the most common questions we've heard from Festival Ranch residents has been 'When are we getting a grocery store?' Today, we're excited to finally share that answer," said Buckeye Mayor Eric Orsborn. "The arrival of Safeway is a major milestone for this community, bringing convenient access to groceries while also attracting the services and amenities that help create a complete community and improve the quality of life for the residents who call this area home."

Sun Valley Parkway was built as a 30-mile, four-lane highway west of the White Tank Mountains in 1989 by private investors who envisioned the undeveloped land to become the next major residential and commercial hub in greater Phoenix. Today, the area is home to major master-planned communities, including Festival Ranch, which includes an active Sun City Festival adult development by Del Webb, and Festival Foothills, a family-oriented neighborhood boasting 1,100 homes, along with Teravalis, which spans 33,000 acres and 100,000 planned homes.

Pederson Group specializes in Class A, grocery-anchored retail shopping centers that create jobs, revitalize neighborhoods and positively contribute to Arizona's economy. The company is behind prominent centers such as Stetson Village, a neighborhood lifestyle center at 39th Avenue and Happy Valley Road in Phoenix; Hayden Peak Crossing, which caters to an affluent market Grayhawk and Scottsdale Airpark; and The Trailhead, a 40-acre, mixed-use urban retail village at the northeast corner
of 83rd Avenue and Happy Valley Road in Peoria.

Set to open in the fourth quarter of 2027, the $45 million Festival Ranch Marketplace will also be developed, owned and managed by Pederson Group. Butler Design Group is the project's architect. "We look forward to bringing a thoughtfully designed center with an architectural flair and much needed amenities to one of the fastest-growing areas of the West Valley," said Jeff Manelis, president of Pederson Group.