Vestar Development shines brightly in the world of commercial real estate. The company develops and manages retail and entertainment properties in the western US. Most of its owned and managed properties are open-air or lifestyle shopping centers such as the Desert Ridge Marketplace in Phoenix. Vestar also manages entertainment complexes, anchored neighborhood shopping centers, industrial complexes, and office buildings. The company owns 23 million sq. ft. of space on behalf of private and institutional investors. Vesatr was founded in 1977 and has offices in Arizona, California, Colorado, Nevada, and Texas.