What Tempe Marketplace does

Tempe Marketplace is a 1.3 million square foot open-air shopping center located at the Loop 101 and 202 interchange in Tempe, Arizona, operating as a combined shopping, dining, and entertainment destination for residents of Phoenix, Scottsdale, Mesa, Chandler, Gilbert, and ASU students. The property hosts over 100 retail shops, restaurants, and entertainment venues — including national anchors such as Target, Sam's Club, JCPenney, Best Buy, Harkins Theatres, Dave & Buster's, Nordstrom Rack, and lululemon — alongside a dedicated experiential zone called The District, which features outdoor amenities (splash pad, fireplaces, water features, free Wi-Fi, EV charging) and the Sip & Stroll alcohol program. The center is also a programmed event venue, hosting more than 300 events per year including community performances, live music, and large-screen live match viewing events.

Tempe Marketplace generates revenue primarily through retail space leasing to its 100+ tenants, with secondary monetization from advertising and sponsorship programs sold against an audience of nearly 17 million annual visitors. Pricing for individual goods and services is set by the tenant retailers rather than by the property; the operator monetizes the underlying rent, common-area maintenance, and marketing/media reach. Tenant relationships and leasing are handled by on-site Vestar personnel (specialty leasing, general leasing, property management, marketing and events), and student traffic is actively cultivated through the ASU Steals and Deals program offering discounts at 30+ retailers.

The asset is privately held and legally organized as Vestar-CPT Tempe Marketplace, LLC, wholly owned and operated by Vestar, a Phoenix-based commercial real estate development and property management firm. There is no parent-level disclosure of investors, no funding rounds, and no public-market listing; commercially, the entity is a single-asset property rather than a technology or platform company, with no proprietary technology stack, mobile application, or API surface in evidence beyond standard marketing channels (Instagram, email newsletter, SMS).

Name

Tempe Marketplace

Legal name

Vestar-CPT Tempe Marketplace, LLC

Website

https://tempemarketplace.com

Company type

Private

Operating status

Operating

Headcount range

51–100 employees

Short description

Tempe Marketplace is a 1.3 million square foot open-air shopping center in Tempe, Arizona, hosting 100+ shops, restaurants, and entertainment venues and drawing nearly 17 million annual visitors under owner-operator Vestar.

Ownership category

akta.pro rank

Product category

Shopping Center / Retail Real Estate

NAICS

Amusement Parks and Arcades (7131), General Merchandise Retailers (455)

SIC

Services-Amusement & Recreation Services (7900), Retail-Misc General Merchandise Stores (5399)

akta.pro primary industry

Family Entertainment Centers & Indoor Amusement (Arcades, Trampoline Parks, Indoor Play) (THAAAAAD)

akta.pro secondary industry

Multipurpose Event Center Operations (Civic Centers, Community Event Complexes) (MPAGALAE)

Keywords

• Open-air shopping center
• Retail leasing
• Lifestyle center
• Shopping dining entertainment
• Community event venue

Headquarters

HQ city

Tempe

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Infrastructure

Revenue model

1. Retail Space Leasing: Generates revenue by leasing retail space to over 100 shops and restaurants. Acts as landlord/operator for national retailers, dining establishments, entertainment venues, and specialty service providers.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels6 records

Core offering

Tempe Marketplace is a 1.3 million square foot open-air shopping center in Tempe, Arizona, featuring over 100 shops, restaurants, and entertainment venues. The property offers shopping, dining, and entertainment experiences, hosts more than 300 community events annually, and operates amenities such as The District, Sip & Stroll alcohol program, splash pad, free Wi-Fi, and electric car charging stations. It generates revenue primarily by leasing retail space to national retailers, dining establishments, and entertainment operators, and also offers advertising and sponsorship programs to brands.

Product overview

Tempe Marketplace is a 1.3 million square foot open-air retail shopping center in Tempe, Arizona, operated by Vestar. The property features over 100 shops, restaurants, and entertainment venues organized across multiple categories including dining, shopping, entertainment, and services. The center operates The District as its primary experiential area with amenities like free Wi-Fi, electric car charging stations, a splash pad, and the Sip & Stroll alcohol program. With more than 300 annual events including live watch parties, community performances, and seasonal celebrations, Tempe Marketplace positions itself as a community entertainment hub rather than a traditional mall. The property offers retail leasing opportunities and advertising partnerships to brands seeking access to its nearly 17 million annual visitors.

Differentiator

Problem solved

Functional benefit

Products and services

• Tempe Marketplace
• Retail Leasing
• Sip & Stroll Program
• ASU Steals and Deals
• Advertising and Sponsorship Opportunities
• Text Notification Service
• Community Performance Stage

Quantifiable outcome

• Nearly 17 million annual visitors
• +2 more outcomes

Named customers10 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered core and minor.

• VestarcoreOthersVestar is the property management company and owner of Tempe Marketplace. Manages operations, leasing, marketing, and community events at the shopping center. Corporate office located at 2425 E Camelback Rd, Suite 750, Phoenix, AZ.
• Arizona State UniversitycoreGTM or Marketing PartnerASU Steals and Deals program offers exclusive discounts to over 30 Tempe Marketplace retailers for ASU students. Students show valid ASU ID to receive discounts ranging from 10-50% off at participating stores.
• Sip & Stroll Restaurant PartnersminorGTM or Marketing PartnerParticipating restaurants in the Sip & Stroll program include Dave & Buster's, Kabuki Japanese Restaurant, Harkins Theatres, Gen Korean BBQ, and Recess. These venues sell alcohol for consumption in approved outdoor areas.
• Blue OutdoorminorGTM or Marketing PartnerHandles directory panel advertising opportunities at Tempe Marketplace. Contact: Daniel Reback at [email protected].
• Nameless PresentsminorGTM or Marketing PartnerMusic events and entertainment programming partner. Contact: [email protected].

Scale indicators5 records

Recent moves5 records

Expansion highlights5 records

Broad incumbents

• Macerich: Major US mall REIT with significant Arizona exposure (including Scottsdale Fashion Square). Comparable as a public-market benchmark for regional mall operating performance and tenant economics.
• Simon Property Group: Largest US publicly-traded REIT and mall operator. Comparable as a benchmark for shopping center operating economics, lease structures, and anchor tenant dynamics, though Simon operates at national scale with a different portfolio mix.
• Vestar: Parent company and commercial real estate developer/manager of Tempe Marketplace and a broader portfolio of shopping centers in the Western US. Provides portfolio-level context for asset-level economics.

Direct peers

• Arrowhead Towne Center: Major regional mall in Glendale, AZ, with a similar mix of national retail anchors, dining, and entertainment. Comparable in scale, anchor tenant overlap, and Phoenix-metro demographic reach.
• Chandler Fashion Center: Super-regional mall in Chandler, AZ, with a comparable mix of department store anchors, specialty retail, and dining. Competes for the same southeast Phoenix-metro shopper.
• Scottsdale Fashion Square: A premier super-regional shopping mall in Scottsdale, AZ, also serving the Phoenix metro with a mix of upscale retail, dining, and entertainment tenants. Directly comparable in geography, tenant profile, and experiential positioning.
• SanTan Village: Open-air lifestyle center in Gilbert, AZ, also owned by Vestar. Directly comparable in operating model, tenant mix strategy, and event-driven programming within the same Phoenix-metro submarket.
• Westgate Entertainment District: Entertainment-focused mixed-use district in Glendale, AZ, combining dining, retail, and entertainment venues (including a stadium and movie theater). Comparable as a Phoenix-metro lifestyle/entertainment destination competing for similar discretionary spend.
• Desert Ridge Marketplace: Open-air lifestyle shopping center in north Phoenix, owned and operated by Vestar (the same parent as Tempe Marketplace). Closest operational peer given shared ownership, similar open-air format, and overlapping Phoenix-metro catchment.

Regional players

• Arizona Mills: Outlet and value-oriented shopping center located in Tempe, AZ, near Tempe Marketplace. Directly competing for the same Tempe trade area but with a different value/outlet positioning and enclosed format.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Instagraminstagram.com/tempemarketplace
• Facebookfacebook.com/TempeMarketplace

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Tempe Marketplace