SURPRISE, AZ — A local developer has plans to add a significant commercial component to the planned Asante Trails mixed-use development in Surprise.
Through Asante Trails Retails Partners LLC, Scottsdale-based SimonCRE on Dec. 14 acquired a 44-acre portion of the Asante site in partnership with Jim Stockwell Jr., a principal at Clyde Capital LLC, for $7.4 million in all cash from an entity connected to GTIS Partners, according to Maricopa County records.
The larger 100-acre Asante Trails project will be anchored by a new 20-acre HonorHealth hospital [bizjournals.com] and feature office and business park uses, multifamily housing, shops, restaurants, hospitality, neighborhood services and other retailers to support the substantial growth of the city. [bizjournals.com]
The commercial portion of the project from SimonCRE and Clyde Capital will be developed in multiple phases. The first phase of retail pads will total about 50,000 square feet; it's expected to break ground in early 2024. Future commercial phases are estimated to total several hundred thousand square feet with a mix of uses developed across multiple years.
Ed Beeh, Mike Polachek and Brian Polachek of SRS Real Estate Partners will handle leasing for the retail portion of Asante Trails. A general contractor has not been selected.
