JV Developing $35M Mixed-Use Project in Surprise, AZ

JV Developing $35M Mixed-Use Project in Surprise, AZ

SimonCRE and Carefree Partners are collaborating on a joint venture to add 70,000 square feet of restaurants and retail to the Surprise City Center. They have plans for further development in the future, including office buildings with ground-floor retail, apartments, parking facilities, a family entertainment center and more across 30-40 acres in the city’s expanding downtown area.

50% of this space has already been leased or committed by tenants (Mission BBQ) before construction has even begun. The cost for developing this initial phase is estimated at $35 million.
Construction is scheduled to start during Q3 2021 and be completed within one year from then onwards for Phase 1 of the project; no general contractor has yet been chosen.

About the Publisher:
Steve Griffin is based in sunny Palm Harbor, Florida. He’s an accountant by profession and the owner of GRIFFIN Tax and REVVED Up Accounting. In addition, Steve founded Madison Avenue Technology. With a strong passion for commercial real estate, he’s also dedicated to keeping you up to date with the latest industry news.

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