Simon CRE Moving Ahead on Surprise Mixed-Use Venture

SimonCRE paid $3.8 million for a 10-acre site in Surprise where it’s developing a retail center anchored by a Whole Foods market. The site is located at the southeast corner of Sarival Avenue and Waddell Road. Land Reserve was the seller.

The Phoenix Business Journal reports Simon plans to break ground on the first phase of the 98,000-square-foot outdoor shopping center to be called Prasada East.

Other tenants coming to the complex include Fox Restaurant Concept’s Flower Child and Barnes & Noble. Paddy O’ Furniture also signed a lease at Prasada East for a 12,000 square-foot space.

The latest project is across from SimonCRE’s The Village at Prasada Shopping Center. Tenants at the Village at Prasada include T.J. Maxx, HomeGoods, Marshalls, Sephora, Burlington, Hobby Lobby, Dick’s Sporting Goods, Target, Nordstrom Rack and Sprouts.

The Wolff Company is also now planning to build out The Residences at Prasada, a 240-unit multifamily complex within the growing shopping district. Wolff recently bought a ten-acre parcel in the development.

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About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.

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