Prasada shopping complex in Surprise a hit with retailers, more growth expected

Prasada shopping complex in Surprise a hit with retailers, more growth expected

Nearly three years after SimonCRE initiated construction of the 700,000-square-foot Prasada in Surprise, Arizona, all retail spaces in the outdoor shopping center have been filled. The second phase, known as Prasada North, encompasses 350,000 square feet, with only 20,000 square feet remaining available for lease. Represented by Western Retail Advisors leasing brokers Ryan Desmond, Dave Uhles, Neil Board and Brian Gausden, the project marks an investment exceeding $600 million across 1 million square feet, which the City of Surprise expects to generate 2,500 new jobs at build-out.

“By the end of 2020, the momentum had really picked up and into 2021 — frankly it was probably some of the strongest interest that I’ve seen in a new development,” said Ryan Desmond, a partner at Western Retail Advisors, the leasing brokerage for Prasada.

The developer set up the center’s restaurant row to attract high quality concepts with a strong sense of place and a common area and patio space that could generate activity and buzz as visitors drive by, Desmond said.

“Just about every retailer here opened up well above their initial projections,” Desmond said. “That initial excitement is not waning at all. All of those retailers are still over-performing what they initially projected to do.”

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