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