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Tempe, Ariz. -- Vestar’s Tempe Marketplace open-air shopping center, located in Tempe, Ariz., was recognized by the International Council of Shopping Centers with a Silver Sustainability Award in ICSC’s annual U.S. Design and Development Awards.
Designed to recognize outstanding projects for excellence in the creation of new retail projects, and in the expansion or redevelopment of existing projects, Tempe Marketplace was chosen for its sustainability, innovative design and development of the property since its build out.
“To be recognized as a shopping center that demonstrates how a specific design or construction problem was solved, in addition to how new design and construction standards were established, truly shows the thought, dedication and attention to quality that went into this center,” said David Larcher, executive VP, Vestar Development Co.
Built on a former Superfund site and considered the largest brownfield clean-up in the history of Arizona, Tempe Marketplace was developed into an open-air, regional shopping, dining and entertainment destination.
Vestar Development Co., the developer of Tempe Marketplace, and Rockwood Capital recently acquired Tempe Marketplace for $280 million by buying out an original partner.
ICSC announced the winners of the 2010 U.S. Design and Development Awards during a recent awards ceremony in Phoenix.