Vestar Named Property Manager for Novus Innovation Corridor’s Hospitality District

Novus Names Vestar as Property Manager for New Restaurants & Retail!

Phoenix-based Vestar, the shopping center owner and manager behind properties like Tempe Marketplace and Desert Ridge Marketplace, has been selected as primary property manager for the hospitality district within the Novus Innovation Corridor in Tempe.

Vestar was selected by Catellus Development Corp., which is the master developer of Novus. While Vestar placed a bid on the project, Catellus and Vestar have a long-running relationship, according to Rachel Forman, a vice president of marketing at Vestar. Vestar will work closely with Arizona State University in this role.

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Novus is a public/private partnership between
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As master developer, Catellus will work collaboratively with ASU to implement the Novus Innovation Corridor design and install required infrastructure, market development opportunities to the commercial real estate community and end users, and manage the community as it develops, on behalf of ASU.