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JV Developing $35M Surprise Mixed-Use Project
SimonCRE and Carefree Partners are working on a joint venture that they hope will add 70,000 square feet of restaurants and retail to the Surprise City Center. They don’t plan to stop there. They are looking at developing more in the future including office buildings with ground-floor retail, apartments, parking, a family entertainment center and more on about 30 to 40 acres in the city’s growing downtown area.
50% of the 70,000 square feet of space currently has leases or commitments from tenants (Mission BBQ) even before construction has started. The cost to develop the initial phase will total about $35 million.
Construction is slated to start in the third quarter of this year and be completed about a year later for the first phase of the project. A general contractor has not been selected.
- ◦Development
