Vestar Development shines brightly in the world of commercial real estate. The company develops and manages retail and entertainment properties in the western US. Most of its owned and managed properties are open-air or lifestyle shopping centers such as the Desert Ridge Marketplace in Phoenix. Vestar also manages entertainment complexes, anchored neighborhood shopping centers, industrial complexes, and office buildings. The company owns approximately 9 million sq. ft. of space in Southern California and Arizona, and manages an additional 18 million sq. ft. on behalf of private and institutional investors. The company was founded in 1977 and has offices in Los Angeles, Phoenix, and San Diego.
Vestar launched its GreenSTAR initiative in order to promote sustainable development for millions of square feet throughout the Southwest. GreenSTAR marks the company's goal to achieve Leadership in Energy and Environmental Design (LEED) certification on all of its new developments. One of Vestar's first GreenSTAR projects is Oro Valley Marketplace, a 900,000 sq. ft. shopping center near Tucson. – less