Target to Replace Movie Theater as Anchor Tenant at Laveen Park Place in West Phoenix

Target to Replace Movie Theatre at Laveen Retail Center
CRE Market Beat Take
Large-format retail commitments at Laveen Park Place and the scale of nearby Laveen Towne Center suggest investors should underwrite this submarket for increasing competitive supply alongside strong population growth.

Target is set to become the new anchor at a retail center in the western part of Phoenix, taking over a spot that had been reserved for a movie theatre. The retailer plans to open a supersized store at Laveen Park Place after Harkins Theatres, which had originally been slated to anchor the project with a multi-screen cinema, chose not to move forward with its plans.

Laveen Park Place is already home to several anchor tenants that have opened ahead of Target’s arrival. Existing retailers at the center include Sprout’s Farmers Market and T.J. Maxx, signaling that the project is establishing a mix of grocery and soft-goods offerings as its foundation. Target’s entry will further expand the center’s draw as a regional shopping destination for residents in and around Laveen.

The new Target store is planned at 140,395 square feet and will occupy the western half of the roughly 16-acre property. The format adds another large-footprint location to Target’s portfolio in the West Phoenix area. The scale of the store suggests it will function as a full-line location, taking up a substantial share of the center’s leasable footprint and reinforcing its role as a primary traffic driver for the project.

Kitchell Development is identified as being behind Laveen Park Place, aligning the project with a developer that is active in commercial work across the region. The article also notes that Vestar is developing Laveen Park Place, associating another established retail developer with the center. The development team is positioning the project in a trade area that is still seeing new rooftops and expanding household formation.

In addition to Laveen Park Place, work is progressing at another nearby retail destination, Laveen Towne Center. That project is described as a 500,000-square-foot shopping center that will bring together retail, dining, and entertainment uses across 90 acres. The concurrent activity at both centers points to an ongoing buildout of retail infrastructure in the Laveen area to serve a growing customer base.

The surge of development interest is being driven in part by transportation improvements. Laveen has experienced notable residential growth since the Loop 202 freeway opened in 2020, creating a direct connection between the area and the broader Phoenix metro. That improved access has increased the viability of larger-format retail projects, prompting new investment and the introduction of additional anchor tenants such as Target.

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