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 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.
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