It is official and confirmed that Costco, the fifth largest retailer in the world is coming to Queen Creek, Arizona.
The people involved in this deal could not be more thrilled to recognize how monumental this announcement is for the town and the community. It will be a catalyst in attracting more people to the thriving real estate market in the east valley.
“We are super excited to have Costco come to Queen Creek,” said Economic Development Director Doreen Cott. “We have strong demographics and a strong trade area and more developers, regional and national retailers are gravitating to our area.” Local Developer, Carson Brown and his team at The Legacy Group have been working on this land development deal, located at Queen Creek Road & Ellsworth Road. Brown and his team have been working with Costco for the last two years and are selling a portion of the site directly to the Costco group. Brown stated, “I am excited for what this will do for the town of Queen Creek. It is one of the fastest growing towns/cities in Arizona and there is so much growth in the east valley right now.”
Earlier this year according to Homes.com, Queen Creek was named one of the top 10 suburbs to move to in the United States. Over the next five years, the town of Queen Creek, with a current population of 68,500 is expected to increase 34% reaching over 91,000 people in 2026. Whether it is residential or commercial real estate, the town is booming. It is a hot market right now. Residential developers are clearly seeing the trends and investment opportunities. Barney Farms, a Fulton Homes subdivision is building a unique development that includes 22 acres of fresh lakes where the community can go paddle boarding or dive in and go swimming. Doreen Cott stated, “Mattamy Homes recently purchased 153 acres for $33M to build 533 homes and will begin building 8 model homes in July of 2022.” The new development, Empire Pointe, will be located on the northeast corner of Empire Blvd. and Gary Road.
With all the residential growth over the next year, this big-box store will be a great addition to all the new developments that are taking place in the area. Costco will also bring a great deal of revenue to the town, as well as employment opportunities to the local community. The Legacy Group is also in a joint venture development with Vestar for the balance of the property. The remaining acres will consist of many regional and national retailers that will be at Queen Creek Crossing. Brown stated, “Rommie Mojahed with SVN Desert Commercial Advisors will be handling the leasing.”
Since we are talking about shopping, shopping and more shopping. The town of Queen Creek also welcomes the new Fry’s shopping center located at Queen Creek Commons, off Ellsworth & Riggs Rd. FatCats entertainment for kids is also a town favorite that just opened this past April and if you want some adult time at the gym, the EOS Fitness development is located on the opposite corner serving up a great balance for all residents in the east valley. “We have been working with the Arizona State Land Department and the 4,000 acres that were annexed will be such a great opportunity to bring in bigger groups and create employment opportunities,” said Cott. We have such great potential with strong growth for years to come and could not be more excited for Queen Creek.”