Vestar Secures Management Services for Palm Valley Pavilions West in Goodyear, Arizona

Vestar, one of the leading privately held shopping center owners and managers in the United States, has been retained for their management services by Raymond Arjmand of RA Centers, buyer of Palm Valley Pavilions West, a 232,573-square-foot power center in Goodyear, Arizona.

Palm Valley Pavilions West is ideally located in a high growth area of Goodyear, adjacent to the 10 freeway and McDowell Road. This is the 19th property that Vestar manages in the state of Arizona. Buyer, Raymond Arjmand of RA Centers, acquired the shopping center on December 15th, 2023, which was 99% leased to national tenants including Best BuyTotal WineBarnes & NobleUTLA BeautyRoss and more.

“We are thrilled to continue our partnership with Palm Valley Pavilions West as the retained management services provider. The center’s exceptional tenant mix and high occupancy rate reflect our dedication to providing exceptional management, leasing and marketing services that result in thriving retail destinations,” said Patrick McGinley, SCSM, President of Management Services at Vestar.

Vestar operates a total of sixty-three open-air shopping centers across the western US, totaling more than 30 million square feet. Vestar also oversees Desert Ridge Marketplace, Tempe Marketplace, and Scottsdale Promenade in the Phoenix Metro Area. Michael Hackett and Ryan Schubert of Cushman and Wakefield represented the Seller in the transaction and facilitated the sale.

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