The Pederson Group Purchases 23 Acres In NW Phoenix for $7.3M

Top Phoenix-based development firm continues to invest in the Happy Valley Corridor, plans new mixed-use project to break ground in 2019

PHOENIX, ARIZ.  –  The Pederson Group, the landmark Arizona-based developer and manager of quality developments across the state, is proud to announce the acquisition and planned development of ±23 acres in the Happy Valley Corridor in northwest Phoenix. Purchased for $7.3M at a recent Arizona State Land Department auction, The Pederson Group successfully outbid several competing firms for this highly-desirable site at the northwest corner of 35th Avenue and Happy Valley Road. Located immediately adjacent to Pederson’s existing Stetson Village retail shopping center, this new mixed-use project will be the perfect complement to Pederson’s existing center when construction starts in late 2019/early 2020.

“We’re big believers in the present and the future growth of the Happy Valley Corridor,” says Pederson Group Founder and Chairman, Jim Pederson, noting that aside from the Safeway-anchored Stetson Village center, which is 100% leased, The Pederson Group is also developing The Trailhead project at the corner of 83rdAvenue and Happy Valley Road. Most important, Pederson says, “This site is one of the last few undeveloped major intersections in this beautiful 10 – 12 mile stretch of the Happy Valley Corridor.”

Combining residential and mixed-used commercial projects, Pederson is now negotiating zoning and entitlement agreements with the City of Phoenix for this yet unnamed development. After concluding negotiations and studying prospective improvements, Pederson hopes to get shovels in the ground within one year, with completion scheduled for late 2020. Sold via public auction, proceeds from Pederson’s winning bid will be invested to benefit state Pioneers’ Home, adult and juvenile correctional institutions, according to State Land Commissioner, Lisa A. Atkins.


About Pederson Group, Inc. 

Since 1983 the Pederson Group Inc. has developed, revitalized, leased and managed best-in-class retail shopping centers across Arizona, including the Scottsdale Promenade and Hayden Peak Crossing. Unlike traditional built-it-and-flip-it developers, Pederson handcrafts each project with an owner’s commitment to quality construction and long-term value. The Pederson Group is located at 2415 E. Camelback Rd., Suite 1070, in Phoenix. For additional information call 602-265-2888 or visit www.pedersoninc.com.

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