Target Replaced Cinema as Laveen Park Place Anchor
The developer has modified its Phoenix retail site plan to swap a planned theater for a Target anchor.
Updated on Sept. 21, 2026 in Openings & Closings
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Kitchell Development has secured Target as the new anchor tenant for the next phase of Laveen Park Place in Phoenix. The move replaces Harkins Theatres, which was the original anchor designated in the city-approved plan.
Why it matters
The change reflects shifting market conditions that have forced developers to pivot away from large-format cinema tenants. Operators should monitor how anchor changes at local retail projects impact overall foot traffic and long-term lease viability for neighboring storefronts.
The project site at the Loop 202 Freeway and Baseline Road has transitioned from a theater-anchored development to one anchored by Target. Existing retailers already operating at the site include Sprout's Farmers Market, T.J. Maxx, and Michaels.
The players
Target
A national big-box retailer serving as the new primary anchor tenant for the Laveen Park Place development.
Kitchell Development
A Phoenix-based real estate developer managing the Laveen Park Place retail project and its current site plan modifications.
Harkins Theatres
A regional cinema operator that served as the original designated anchor for the project before the plan was altered.
The details
Kitchell Development submitted a formal modification to existing zoning approvals to facilitate the site plan change. The developer removed the proposed movie theater and a second major tenant from the project scope to accommodate the new retail anchor. This adjustment highlights the recalibration of suburban commercial development in response to evolving consumer demand and market preferences.
Timeline
September 21, 2026: The shift in anchor tenancy was formally reported.
Market Landscape
This pivot follows the broader industry trend of prioritizing daily-needs retailers over entertainment anchors in suburban power centers. It marks a departure from the theater-centric development models that dominated local retail planning prior to the recent shift in consumer habits.
Operators in the Phoenix area should review how shifts in anchor tenancy impact the projected foot traffic and demographic profile of their own neighborhood retail centers. Assess whether current lease agreements require or allow for specific anchor-tenant benchmarks that may now be in flux.
The takeaway
Retail developers are increasingly favoring proven big-box anchors over movie theaters to ensure steady center viability. Track future zoning modification notices to identify if your neighboring retail projects are adjusting their tenant mixes to reflect current market realities.
Further reading
For more updates on local commercial real estate changes, see our Openings & Closings section.
Source note: This article includes information reported by KTAR.
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