Target, Kohl’s and more confirmed for fast-growing retail center in Surprise

Audrey Jensen, Phoenix Business Journal

The new Village at Prasada shopping center will bring new restaurants, stores and entertainment options to the Loop 303 area in Surprise.

Target, Kohls, Boot Barn and more are bringing new stores to the fast-growing Prasada shopping centers in Surprise that are being developed by Scottsdale-based national retail developer SimonCRE.

Target Corp. recently acquired about 10 acres between the Loop 303 and Sarival Avenue just north of Waddell Road.

It paid about $4.3 million for the property, according to Maricopa County records, with plans to develop a 150,000-square-foot store to anchor the Prasada North shopping center between the Loop 303 and Sarival Avenue just north of Waddell Road.

Prasada North will include about 350,000 square feet of retail space with tenants including Boot Barn, Torchy’s Tacos, Portillo’s hot dogs, Ahipoki Bowl, Einstein Bagels and Verizon. Adjacent to the shopping center, American Furniture Warehouse is also developing a new store.

“Right now, residents have to travel at least seven miles, one way, to visit these kinds of retailers. We look forward to providing Surprise with more of the retailers that make the top of their yearly wish lists,” said Joshua Simon, Founder, and CEO of SimonCRE, in a statement.

SimonCRE recently acquired 35 acres for the north Prasada retail center from Suburban Land Reserve Inc. for $12 million, according to real estate database Vizzda and Maricopa County records. The first tenants at Prasada North are expected to open by late 2024.

The Prasada North shopping center is an extension of the new Village at Prasada just south of Waddell Road that contains about 700,000 square feet of shopping, dining and service space next to a Costco store and gas station.

Kohls recently signed an agreement with SimonCRE for a new store next to Floor & Decor at the Village at Prasada, adding to other stores and entertainment such as Sprouts Farmers Market, Total Wine, Hobby Lobby, Fat Cats and Dick’s Sporting Goods.

Western Retail Advisors is the leasing brokerage representing SimonCRE on the Prasada developments.

“The clear success of SimonCRE’s Village at Prasada has amplified the demand for retailers to find a home at Prasada North. They’ve taken note of the premier tenants and robust sales at Village at Prasada and want to be a part of it,” said Eric Termansen, founding partner of Western Retail Advisors, in a statement.

SimonCRE has also partnered with another company to develop an initial 70,000 square feet of retail space at the Surprise City Center. The first phase of the joint venture’s project has secured several leases with restaurant concepts including national barbecue chain Mission BBQ, Italian restaurant Osteria Mia, Café Zupas and Better Buzz Coffee Roasters.

Originally published by The Phoenix Business Journal on June 27, 2023.