CBRE has negotiated a 20,000-square-foot lease at Tempe Marketplace in Tempe, Ariz on behalf of DSW Designer Shoe Warehouse.
Todd Folger with CBRE’s Phoenix office negotiated on behalf of DSW. David Malin, director of acquisitions and development for Vestar, Inc. represented Tempe Marketplace.
“This transaction continues to show the overall improvement in the Phoenix economy and is a notable indicator of the renewed confidence in the metro Phoenix retail market,” said CBRE’s Folger. “As always, I am very pleased to assist a tremendous retailer like DSW in their continued expansion in Arizona.”
Developed by Vestar in 2007, Tempe Marketplace is a premier, interactive shopping, dining and entertainment destination located at southwest corner of the loop 101 and 202 freeways in Tempe. The project features 1.3 million square feet of retail space and, in addition to the new lease with DSW, is home to prominent national retailers including Target, Cost Plus World Market, Old Navy, JC Penny, GAP and Best Buy. It is also home to the first Arizona location for Dave & Busters.
DSW is a leading branded footwear and accessories retailer. The retail giant operates 393 stores across the U.S., including the District of Columbia and Puerto Rico. In addition to the new location at Tempe Marketplace, DSW’s other Valley locations include stores at Gateway Pavilions in Avondale, Arrowhead Crossing in Peoria, Scottsdale Fiesta in Scottsdale, Desert Ridge Marketplace in Phoenix, Chandler Village Center in Chandler and San Tan Village in Gilbert. DSW’s Tempe Marketplace location will open in the spring of 2014.