CityNorth Update
We recently noted that the developers of the premier new development in North Phoenix, CityNorth, announced their first major anchor tenant, Nordstroms. This would be the second Nordstrom's in the Valley, with the first location at Scottsdale Fashion Square. Now they are hinting at the possiblity of two other high-end names joining the center. The developers think they have a line on Neiman Marcus and Bloomingdales. For Neiman-Marcus it would also be the second valley store. Bloomingdales has stated that they will open their first Phoenix area store but have not officially announced any location.
If this does become reality it will change the make-up of high-end retail in the Valley of the Sun. CityNorth is one of three high-end developments planned or underway along the Loop 101 from Tatum Blvd to Scottsdale Road. The other two, Palisene and One Scottsdale, are located at Scottsdale Road and the Loop 101. Landing three premiere stores in one location will continue to bring smaller high-end retailers as well. This type of shopping has been available primarily at the Scottsdale Fashion Square.
CityNorth is immediately adjacent to Desert Ridge MarketPlace and across the street from the JW Marriott at Desert Ridge. The entire development has been designed to provide a pedestrian-friendly atmosphere. Bringing in the higher-end tenants only adds to the feel of an exclusive "small town" approach to shopping. This should be a boost to the entire area. Nordstrom's is due to open in 2009. Many other national tenants have signed, but the developer has not yet released details.
Adam Tarr, e-Pro
Sharon Kotula, ABR
RE/MAX Excalibur
Your Phoenix Area Real Estate Source
Scottsdale, AZ
480-483-3333
info@WeAreAZRealEstate.com
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