Empire Group of Companies has replaced Diversified Partners with SimonCRE to complete the buildout of a proposed 120,000-square-foot retail center in Carefree. The Phoenix Business Journal reports the move was made due to an issue with delivering tenants. The Carefree Quarter project is expected to cost $60 million to build. The development will break ground in early 2027. Empire Group acquired the land in 2017 for $6.5 million.
The plan is for a 30,000-square-foot grocery store with a 16,000-square-foot building attached. There will also be three shops and eight pad buildings ranging in size from 1,700 square feet to 4,700 square feet,
Empire is working on a project in downtown Phoenix that will become Arizona’s tallest tower. Arro is a 1.8 million-square-foot development that includes two towers, each home to a hotel, residential units, a restaurant and office space. Anticipated groundbreaking is early next year.
The post Empire Group Brings On SimonCRE to Oversee Carefree Retail Center Venture appeared first on Connect CRE.
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