BUSINESS

Vestar acquires north Phoenix development site

A rendering of future development of Black Mountain Village, a development in north Phoenix near Black Mountain Parkway and Deer Valley Road.

Submitted rendering/Vestar

Vestar has acquired a 20-acre parcel of land in north Phoenix, the group announced Thursday in a news release.

The land, bought from the Arizona State Land Department, is at the intersection of Black Mountain Parkway and Deer Valley Road.

The development, known as Black Mountain Village, is a grocery-anchored retail destination representing an investment of more than $50 million in the rapidly growing Desert Ridge community.

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Vestar acquires north Phoenix development site

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