Vestar Selected to Manage The Groves in Tempe, Arizona
Vestar, one of the leading privately held real estate companies in the Western United States, has been retained by a large institutional owner as its property services firm for The Groves, a 431,328 square-foot community entertainment shopping center located in Tempe, Arizona.
Vestar’s team brings a wealth of experience, leadership, and resources to The Groves. Geared toward management of quality institutional assets, Vestar manages over 24 million square-feet of premium retail space throughout the Western U.S. Over the past 12 months Vestar has added 2.5 million square-feet to their prominent management portfolio of quality institutional-owned assets.
“Our valued institutional clients understand the importance of retaining an experienced and established property management, leasing and marketing firm to secure their investment and maximize return strategies” said Patrick McGinley, SCSM, President of Management Services. “We are excited to deliver superior results to our client and the community of Tempe.”
“Our strong growth in management services is a direct reflection of the quality relationships and trust we have built with institutional owners over 25 years of proven performance,” added Bryce Egbert, Director of Business Development.
The Groves is conveniently located near the I-10 freeway and Elliott Road in the East Valley of the Phoenix metropolitan area in Tempe, Arizona. The center is anchored by a Walmart, Mor Furniture, Ross, PetSmart, Staples, Dollar Tree and Beall’s Outlet with a mix of inline and pad tenants.