Phoenix AZ – February 28, 2026 | By STAFF HERE PHOENIX WRITER
WHAT’S HAPPENING
What new retail developments are opening in the Phoenix area?
Marketplace at Tres Rios in Avondale and a ±24.5-acre center at 99th Ave & Indian School Rd in Phoenix are progressing.
When did AZ-VC rebrand as Copper Sky Capital?
AZ-VC rebranded as Copper Sky Capital on February 25, 2026, expanding its North American focus.
Where is the Marketplace at Tres Rios located?
The Marketplace at Tres Rios is located at the southwest corner of Avondale Boulevard and Lower Buckeye Road in Avondale, AZ.
What is the focus of the new Copper Sky Capital?
Copper Sky Capital focuses on early-stage technology companies across North America, with an emphasis on AI software products.
Phoenix, Arizona experienced significant commercial real estate growth in February 2026 with the announcement of two new retail developments in Avondale and Phoenix. Additionally, local venture capital firm AZ-VC rebranded as Copper Sky Capital, expanding its North American focus on early-stage tech companies. This period marks sustained investment in the region’s business landscape.
Phoenix Area Experiences Significant Commercial Growth in February 2026
February 2026 brought notable commercial real estate activity and a significant venture capital rebrand to the Phoenix metropolitan area. New retail developments are progressing in Avondale and Phoenix, while a local venture capital firm has expanded its focus to encompass early-stage technology companies across North America. These developments highlight a period of sustained growth and investment in the region’s business landscape.
What New Retail Centers are Emerging in the West Valley?
Evergreen Development is making progress on the Marketplace at Tres Rios, a new shopping center anchored by Fry’s Marketplace in Avondale. The development is located at the southwest corner of Avondale Boulevard and Lower Buckeye Road. This 28-acre retail center will feature the Fry’s Marketplace along with three multi-tenant buildings and seven retail pads. These additional spaces are designated for restaurants, services, a financial institution, and various convenience-oriented retailers, aiming to establish a comprehensive neighborhood destination. The Marketplace at Tres Rios is strategically designed to serve the rapidly expanding southern Avondale area, including the Alamar master-planned community. The project advanced from site approval by Fry’s to the commencement of construction in less than 12 months.
Concurrently, Diversified Partners announced plans for a substantial ±24.5-acre commercial retail development in Phoenix, situated at the southeast corner of 99th Avenue and Indian School Road. This new center is planned to be anchored by EOS Fitness. The development will also include nationally recognized brands such as Dutch Bros, HTeaO, Farmer Boys, and Bojangles, alongside other retail and drive-thru concepts. Positioned just west of Loop 101, the site offers strong visibility and accessibility, benefiting from high traffic counts exceeding 140,000 vehicles per day along Loop 101 and approximately 46,000 vehicles per day at the intersection of 99th Avenue and Indian School Road. This project aims to cater to one of the West Valley’s fastest-growing residential corridors, with over 7,200 new housing units either planned or under construction within 1.5 miles of the site. The development is reported to be approximately 77% leased.
How is Phoenix’s Venture Capital Landscape Evolving?
In related business news, AZ-VC, a local venture capital firm, rebranded as Copper Sky Capital on February 25, 2026. This rebrand signifies the firm’s expanded focus to a broader platform that supports early-stage technology companies across North America. Copper Sky Capital maintains a sector-agnostic approach with a particular emphasis on AI software products. Founded in 2021, the firm is led by Managing Partners Jason Pressman and Jack Selby. The firm’s strategy involves leading Seed and Series A funding rounds for companies primarily located outside of traditional technology hubs such as Silicon Valley, New York, and Boston. This approach is based on the belief that regions outside major tech hubs receive a disproportionately small share of venture capital investment, presenting a structural opportunity for growth. Copper Sky Capital builds upon the foundation of AZ-VC, including its inaugural Fund I which secured over $115 million in committed capital. The firm also provides a platform of operating partners to support founders in scaling their businesses.
Details on Phoenix-Area Commercial Developments
| Development Name | Developer | Location | Size | Anchor Tenant | Key Tenants/Features |
|---|---|---|---|---|---|
| Marketplace at Tres Rios | Evergreen Development | SWC Avondale Boulevard & Lower Buckeye Road, Avondale | ~28 acres | Fry’s Marketplace | 3 multi-tenant buildings, 7 retail pads for dining, services, financial institutions, convenience retailers |
| 99th Avenue & Indian School Road Retail Development | Diversified Partners | SEC 99th Avenue & Indian School Road, Phoenix | ±24.5 acres | EOS Fitness | Dutch Bros, HTeaO, Farmer Boys, Bojangles, additional retail and drive-thru concepts; ~77% leased |
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Author: STAFF HERE PHOENIX WRITER
The PHOENIX STAFF WRITER represents the experienced team at HEREPhoenix.com, your go-to source for actionable local news and information in Phoenix, Maricopa County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Waste Management Phoenix Open, Cactus League Spring Training, and Arizona State Fair. Our coverage extends to key organizations like the Greater Phoenix Chamber of Commerce and Visit Phoenix, plus leading businesses in technology and healthcare that power the local economy such as Intel and Banner Health. As part of the broader HERE network, including HERETucson.com, we provide comprehensive, credible insights into Arizona's dynamic landscape.
