Retail Market Guide 2022

9

GOODYEAR ARIZONA

#

RETAIL INDUSTRY ANALYSIS & TRENDS Goodyear, Arizona

2022 RETAIL MARKET GUIDE

Fastest Growing U.S. City – US Census Bureau

Joe Pizzillo Mayor, City of Goodyear

City of Goodyear Office of the Mayor 1900 North Civic Square Goodyear, Arizona 85395 (623) 932-3910 or (800) 872-1749 goodyearaz.gov

Dear Friends, I welcome your consideration of the City of Goodyear, Arizona as the next location for your retail business. Goodyear is the 9th Fastest Growing City according to the US Census Bureau, with more people and businesses calling Goodyear home every day. The American dream is thriving in Goodyear, and we want you to be a part of it! Here are just some of the reasons Goodyear is the perfect place for your retail business: •

A rapidly growing population fueled by extensive housing growth

•

High household incomes and strong consumer spending patterns

•

A trade area that draws from the entire west Phoenix metro

•

Ample opportunity for ground-up development and a strong inventory of existing spaces

•

A business-friendly environment and welcoming community

We are committed to seeing your business succeed, and our Economic Development team is here to help you and show you why Goodyear is where your business needs to be. As you explore the city, you will see firsthand why everyone is filled with confidence that Goodyear is an excellent place for businesses to thrive.

Sincerely,

Joe Pizzillo Mayor, City of Goodyear

9

GOODYEAR ARIZONA

#

GOODYEAR BY THE NUMBERS

Fastest Growing U.S. City – US Census Bureau

CONSUMER SPENDING Housing $

Total Housing Units

Population

101,662

38,997

Median Age

37.8 Gender

Median Home Value

Single-Family Home Permits

52.4%

5 years | FY2017-2021

_______________

Personal Care $

51.5M

Mean Household Income

_______________

98,908

$

Furniture $

32M

_______________

Median Gross Rent

7,142

Female

145M

85,147

47.6% Male

Travel $

$

332,700

$

1.25B

_______________

Median Household Income

1,564

Food $

$

219M

_______________

Entertainment $

180M

_______________

Apparel $

EDUCATIONAL ATTAINMENT

120M

68.5% of the adult population has some college or a college degree.

39.1%

_______________

29.4%

Some College Associate Degree

Vehicle $

65M

Bachelor Degree or Higher

WORKFORCE OCCUPATIONS

ECONOMIC GROWTH

Management, Business, Science, Arts 35.7% Service (healthcare, fire/police, personal care, food) 15.4% Sales, Office 26.9% Natural Resources, Construction, Maintenance 11.3% Production, Transport, Material Moving 10.7%

Goodyear has grown to a current total of 978 businesses with 5 or more employees constituting over 30,000 jobs.

Workforce Population

Professional Workers

1.56M

62.4

%

management, business, sales, office

age 15 and over within 30-minute drive time

POPULATION GROWTH 1990-2050

Employer Size

# of Businesses

Total Jobs

5 to 19 jobs

699

6,220

20 to 99 jobs

232

8,980

100 to 249 jobs

31

4,290

250+ jobs

16

10,750

Goodyear is only 20 Minutes from Downtown Phoenix 60

101 17

303

228,600

Glendale 101

192,200

Scottsdale

10

Phoenix-Goodyear Airport Rail Line

140,300 96,789

Goodyear

Tempe

347

18,911 238

2020

2030

2040

2050

Source: City of Goodyear Development Services | MAG 2021 Estimates | US Census Bureau | ESRI 2021

8

60 202

202

85

6,258

2010

Sky Harbor Airport

Phoenix

85

65,275

2000

Phoenix

ME TRO P HO E N I X

Actuals and Estimated

1990

A R I Z O N A

Goodyear

10

DEMOGRAPHIC PROFILE

Radius from Litchfield Road & McDowell Road Total Population Avg. Household Income Housing Units Median Age

3-mile 97,035 $91,006 35,316 36.1

5-mile 205,006 $92,957 71,062 34.9

10-mile 633,164 $83,862 208,114 33.6

Source: 2022 CoStar Group

HOUSING BY THE NUMBERS Single-Family Permits Data / Trends 2021 showed rapid growth with the highest number of single-family home construction permits since 2007.

12

1,799

2021 Goodyear Single Family-Permits

17

J

80%

1

10

Households with Families non-single households

40,000

A

15

26

N

3

17

West Valley Permits Issued 5 years | FY2017-2021

I

WEST VALLEY 5-YR SFP TOTALS City Buckeye

13,008

Surprise

9,012

Goodyear

7,200

Peoria

6,812

Avondale

1,877

Glendale

1,513

Source: Home Builders Association of America

9

L

K

O

M

D

H

11 E

4,647

Existing Multi-Family Units

4,800+

Multi-Family Apartment Units under construction/in process

3,400+

Multi-Family Detached Units under construction/in process

19

Cottonflower Marketplace

Multi-family Residential Growth More than 8,500 multi-family units are on the way, which will bring thousands of new residents to Goodyear.

Canyon Trails Towne Center

18

5 YRS: 2017-2021

C

R

27 20

2

Baldridge Commons

Cottonflower Marketplace

Canyon Trails Towne Center

Cobblestone Creek

Golden Corral, Pep Boys, QT, Sketchers Planet Fitness, PetSmart, Pottery Barn Outlet, Ross, Super Target

Canyon Trails Plaza

ACE Hardware, Dutch Bros. Coffee, Panda Express, Safeway, Tailgaters Sports Grill

Esporta Fitness, Federico’s Starbucks, AAA, Walgreens

Estrella Marketplace

Arizona Pizza Company, Brooklyn Bedding, Jimmy John’s, Walmart

Estrella – Mountain Ranch Marketplace

Safeway, Starbucks, Subway, Walgreens

Estrella Fal

BJ’s Restau Square & L Kitchen, Ha

Goodyear A

Auto Zone, Powerspor Bar-B-Q, S Starbucks, Yates Buick

Palm Valley Marketplace

GOODYEAR ARIZONA

40

4

thousand

21

R

14

R

8 5

Estrella Falls Retail at Regional Center Cobblestone Creek Market at GSQ Estrella Falls Pebblecreek Goodyear Centerpointe Marketplace

24

Palm Valley Pavillions

Palm Valley Cornerstone

27

Estrella Marketplace Parkway Village

13

Goodyear Auto Mall & Palm Valley Crossing

Canyon Trails Plaza

7

Goodyear Village

Baldridge Commons

16

G

Multi-Family Developments

6

Single-Family Rental/Multi-Family Apartments Zoned, Active, & Near Completion

F Retail at Goodyear Ballpark

25 23 B

Estrella Mountain Ranch Marketplace

lls / GSQ

Goodyear Centerpointe

Auto Mall /Palm Valley Crossing

Goodyear Village

urant & Brewhouse, Civic Library, Cheddar’s Scratch arkins Theatres

, Big Lots, RideNow rts, Rodeo Ford, Rudy’s Schlotzsky’s, Service King, Shooter’s World, Trek, k GMC

single-family permits issued in the west valley

BevMo!, Cantina Gueros, Conn’s, EoS Fitness, Olive Garden, Red Lobster, Texas Roadhouse, Urban Air Adventure Park

Single-Family Developments Zoned, Active, & Near Completion

Development Name # of Homes A. Amber Meadows 293 B. Avion at Ballpark Village 675 C. Bennett Meadows 90 D. Citrus Park 616 E. El Cidro 1,324 F. Fulton Homes at Ballpark Village 796 G. Hudson Commons 250 H. La Jolla Vista 565 I. La Privada 894 J. Las Palmas 750 K. Las Ventanas 412 L. Oasis at Canyon Trails (new builds) 54 M. Pradera 471 N. Silva Trails 616 O. Ventana de Estrellas 295 as of January 2022

Palm Valley Pavilions

Angry Crab Shack, dd’s Discounts, Dollar Tree, Goodwill, O’Reilly Auto Parts

Bath & Body Works, Barnes & Noble, Black Angus, Best Buy, Chili’s, Chipotle, Cracker Barrel, Denny’s, Famous Footwear, Five Below, Kirkland’s, Macayo’s, Michaels, Old Chicago, Target, Total Wine, Ulta, Wildflower Bread Co.

Palm Valley Cornerstone

Pebblecreek Marketplace

Buffalo Wild Wings, Chick-Fil-A, Discount Tire, JC Penney, Lowe’s

Babbo Italian Eatery, Panera Bread, Potato Barn, SunWest Credit Union

Development Name # of Units 1. Acero 2 Estrella Commons District 352 2. Arrebol Vistas 230 3. Aviata Apartments 414 4. Aviva Goodyear 288 5. BB Living at Estrella Falls 289 6. Bungalows at Hudson Commons 183 7. Cabana at Bullard 336 8. Cabana at Estrella Falls 286 9. Canyon Trails Towne Center Apartments 284 10. Cascade Falls 288 11. Cotton Commons 220 12. CTC at Canyon Trails 319 13. Curve at Estrella Commons 64 14. District at Civic Square 352 15. Dominion 640 16. Goodyear Airport Commons 307 17. Hancock at Canyon Trails (2 locations) 624 18. Hillstone Residence at Canyon Trails 240 19. Innovation Villas on Sarival 151 20. Lakin Park Bungalows 228 21. Liberty at Estrella Falls 106 22. Prose at Ballpark Village 348 23. Rev at Ballpark Village 251 24. Sanctuaire at Centerscape 300 25. Solace at Ballpark Village 511 26. TerraLane at Canyon Trails 262 27. The Residences at Cotton Commons 444 as of January 2022

Parkway Village

Crumbl Cookies, Dickey’s BBQ, Firehouse Subs, Saddle Mountain Brewing Co., Sherwin-Williams

The Market at Estrella Falls

Arriba Mexican Grill, Burlington, CAL Ranch, HomeGoods, La-Z-Boy, Noodles & Company, Old Navy, Oregano’s, Party City, Petco, Shoe Carnival, Staples, TJ Maxx

GOODYEAR TRADE AREA GEOFENCING STUDY 25 Miles

Goodyear Trade Area Study

The Market at Estrella Falls Goodyear Centerpointe Harkins Theater/Estrella Falls

15 Miles

Canyon Trails Towne Center Palm Valley Pavilions West

10 Miles 5 Miles

In 2020, the city of Goodyear conducted a Geofencing Research Study to gain intelligence about the rapidly growing Goodyear retail trade area.

Five retail venues were studied to compare relevant shopper draw, demographic profiles, and market data to serve as a proxy for the retail trade area.

The study found Goodyear is a: •

Regional powerhouse, drawing shoppers from neighboring communities

•

Vibrant, vital, and affluent sub-market of the Phoenix metro area

•

Unique and exclusive trade area compared to central Phoenix

August Partners, Inc.

SUMMARY OF SHOPPER DEMOGRAPHICS The Market at Goodyear Estrella Centerpointe Falls

Key Shopper Characteristics Shopping Freq. Index

Harkins Theatres Estrella Falls

Canyon Trails Towne Center

Palm Valley Pavilions West

4.2

4.3

3.3

7.4

4.5

4,299

4,518

4,863

3,849

4,778

$101,530

$98,710

$98,989

$98,033

$99,345

Median Age

36.8

35.9

35.4

34.5

35.6

$75K+ HH%

54.0%

52.7%

53.1%

53.6%

53.0%

$100K+ HH%

36.7%

35.2%

35.6%

35.3%

35.8%

College Grads+

28.4%

27.3%

27.5%

26.2%

28.2%

Ann. Apparel Spend/HH

$2,711

$2,702

$2,738

$2,690

$2,687

Ann. Dining Out Spend/HH

$5,184

$5,165

$5,229

$5,150

$5,131

Ann. Home Furn. Spend/HH

$2,731

$2,686

$2,692

$2,679

$2,689

Ann. Grocery Spend/HH

$6,396

$6,396

$6,460

$6,363

$6,344

Pop. Density (per sq. mi.)

Avg. Household (HH) Income

Average Spend per Household

Goodyear

Central Phoenix

$7,000 $6,000

Goodyear’s Shopper Profile •

Superior underlying market demographics for income and spending power

•

Affluent shoppers with high spending levels per household

Goodyear Trade Area Comparisons •

Goodyear trade area shoppers spend significantly more than central Phoenix shoppers

•

Goodyear residents spend appreciably more than those in neighboring cities

GOODYEAR AVG. SPEND ADVANTAGE Location

Advantage

Grocery

19.2%

Healthcare

16.0%

Dining Out

26.7%

$5,000

Entertainment

13.2%

$4,000

Apparel & Accessories

27.1%

$3,000

Furniture/Furnishings

11.8%

$2,000

Personal Care

23.0%

$1,000 $0

Grocery

Healthcare

Dining Out Entertainment Apparel & Furniture/Home Personal Care Accessories Furnishings Prod./Svcs.

Source: City of Goodyear, AZ Geofence Research Study Summary of Findings Report May 2020 - March 2019 through February 2020

39

GOODYEAR ARIZONA

% Avg. daily

F

3

2

G

1

traffic count at major i n c r e a s e intersections

B DAILY TRAFFIC COUNT

151,675

4

C D

5

GOODYEAR TRAFFIC COUNTS A

6

E

•

From 2013-2019 Goodyear commercial corridors experienced major traffic count increases

•

Increasing traffic counts means more shoppers and visitors

•

Growing commercial and economic activity each year RETAIL CORRIDOR DAILY TRAFFIC COUNTS

POTENTIAL UNDEVELOPED RETAIL SITES

A

NWC Cotton Ln. & Yuma Rd. 17 acres Adjacent corner near the rapidly growing Canyon Trails Towne Center and Cottonflower Marketplace, surrounded by numerous single & multi-family subdivisions.

B

SWC Bullard Ave. & McDowell Rd. 29 acres Immediately north of the I-10 freeway near Goodyear Civic Square (GSQ), Gen1 at GSQ class A office, and upcoming restaurant and retail development.

C

D

SEC Bullard Ave. & Interstate 10 24 acres South of I-10 freeway neighboring Cancer Treatment Centers of America. Near employment centers in manufacturing, technology & distribution along Bullard.

SWC Litchfield Rd. & Interstate 10 39 acres South of I-10 neighboring Cancer Treatment Centers of America, Goodyear Auto Mall, and retail centers at Palm Valley Crossing and Goodyear Village.

1 2 3 4 56 6

Intersection 2013-15* Litchfield Rd. & McDowell Rd. 47,220 Bullard Ave. & McDowell Rd. 21,930 Pebble Creek Pkwy. & McDowell Rd. 29,090 Estrella Pkwy. & Roosevelt St. 32,070 Cotton Ln. & Van Buren Rd. 20,240 Cotton Ln. & Yuma Rd. 14,140 TOTAL 213,710

2019 49,955 29,674 39,774 39,071 30,168 32,419 296,283

Increase 6% 35% 37% 22% 49% 129% 39%

Retail at Goodyear Ballpark 9,327 sq. ft. (divisible) Unique opportunity for in-line restaurants and retail at Ballpark Village. Highly visible with over 4,000 units of single & multi-family developments planned/under construction.

E

F

G

Estrella Falls Regional Center 116 acres East of Goodyear Civic Square, this property presents countless opportunities for retail development, fueled by rapid housing and population growth surrounding the land.

Retail at GSQ 15 acres Phase 1 restaurant and retail development totaling approx. 5,800-13,500 sq. ft. Phase 2 will bring possibilities for additional retail development immediately south.

Visit our Economic Development website www.developgoodyearaz.com

What’s That? Find out on our Development Map www.developgoodyearaz.com/get-connected/development-map

For business announcements visit our Biz Buzz page www.developgoodyearaz.com/get-connected/biz-buzz

Follow, Like, and Retweet our posts on Twitter @GoodyearAZecdev

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1900 N. Civic Square, Goodyear, AZ 85395 | 623-932-3025 | gyecdev@goodyearaz.gov