Developer under contract for 6-acre Peoria site with specialty grocer

Article originally posted on Phoenix Business Journal on July 10, 2026

Scottsdale-based SimonCRE is buying another West Valley property for a commercial project.

The developer is under contract to acquire a 6.2-acre site at the southeast corner of Lake Pleasant Parkway and West Yearling Road in Peoria from homebuilder K. Hovnanian, according to CEO Josh Simon.

A rezoning item for a mixed-use project there is heading to Peoria’s Planning and Zoning Commission and will be up for discussion at a July 16 meeting.

According to a city notice for a June 3 community meeting, the commercial component “will feature a specialty grocer.”

Simon declined to share the name of the expected tenant.

Meanwhile, the developer has been busy working on other projects in Glendale and Surprise with one notable grocer — Whole Foods Market, which is opening new stores in both those cities.

The site SimonCRE intends to purchase in Peoria is within a larger, roughly 72-acre property that K. Hovnanian acquired through an Arizona State Land Department auction early last year, placing a winning bid of $30 million.

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