Vestar will break ground net week on its massive shopping center in Buckeye, which will feature a Harkins BackLot, a Target, a Safeway and more. The Verrado Marketplace will feature shops, dining, grocery, entertainment and services across 520,000 square feet. Vestar is expected to invest $300 million into the project including all tenant improvements. Other tenants that have been announced for the Verrado Marketplace include Marshalls, Ross and HomeGoods.

Vestar also plans to unveil names of 15 additional national and local retailers that are expected to be part of the retail center at the northeast corner of Interstate 10 and Verrado Way.

The Phoenix Business Journal reports the city of Buckeye is working on designating 2,100 acres just south of Verrado Marketplace into a mixed-use center with various uses, such as retail, entertainment, housing, education and more. Another 600,000 square feet of retail is underway south of I-10 at Verrado Way across three major projects, including the 411,000-square-foot Buckeye Commons and the 100,000-square-foot Roosevelt Commons.

SimonMed is pursuing a permit to build a 239-unit apartment complex and 13,000 square feet of office space near the Glendale sports and entertainment district (photo).

The Phoenix Business Journal reports the new proposal would be developed in two phases and include two four-story buildings, a clubhouse and amenities such as pools, seating areas and kitchens. A standalone retail building will also go up along 99th Avenue and could be used for galleries, medical offices, coffee shops and microbreweries. TriArc Architecture & Design is the architect.

Nearby, the city has been working to prepare 200 acres for a master-planned commercial development with offices, retail areas, hotels, and high-density housing. The development would take several years and be in multiple phases.

Trucking company Yellow has hit another bump in the road as it tries to get out of leases across the U.S. and Canada as part of its bankruptcy proceeding. 

Landlords have objected to the amount the company has offered to pay to get out of dozens of leases, CoStar reported. The objections stem from unpaid rent, taxes, late fees and maintenance, and property damages. 

Blackstone’s Link Logistics claims that Yellow owes it $213K in unpaid rent and other fees for two truck terminals in Orlando, Florida, and Elkridge, Maryland, CoStar reported. R+L Carriers said the company owes it $4.7M, including $2.2M due to the trucker’s failure to prevent environmental hazards at properties in Atlanta and Chicago.

Estes Express Lines said that Yellow neglected truck terminals in Milwaukee, Charlotte and Kearny, New Jersey, that would cost at least $27.9M to repair, according to CoStar. Yellow only offered to pay $652K for damages, including broken and cracked asphalt parking lots and roof damage. 

Other landlords that raised objections include Terreno Realty Corp., Crown Enterprises, Mad Acquisitions, Kestrel Crossdock and Fazio Faloma Properties.

Yellow filed for Chapter 11 bankruptcy on Aug. 6 after running into issues refinancing debt, a large portion of which was from a $700M federal government loan the company took out early in the pandemic.

In September, Estes became the lead bidder to acquire Yellow’s owned real estate through a $1.5B stalking horse offer that beat out Old Dominion Freight Line. The company could still be outbid at a Nov. 28 auction.

Another major trucking firm, Jack Cooper Transport, is set to prepare its own bid for Yellow’s real estate, Reuters reported. Part of Jack Cooper’s bid would include rehiring 30,000 Yellow workers.

CORRECTION, DEC. 5, 5 P.M. ET: A previous version of this story misstated the number of leases landlords objected to and how many Yellow employees would be rehired as part of Jack Cooper Transport’s proposed bid. The story has been updated.