Developer purchases large-scale project in Queen Creek
Company plans to invest $20 million into the project
by Janet Perez | Daily Independent
A national commercial real estate development and acquisition firm has purchased a 13.50-acre multi-pad center that will grow to a $20 million project at build-out in San Tan Valley.
Purchased by SimonCRE for more than $14.4 million, the center is at the southeast corner of Ocotillo and Ironwood roads. It currently houses a Walgreens, Ace Hardware, McDonald’s and two multi-tenant buildings.
SimonCRE has plans to develop a 22,000-square-foot box for Goodwill, add additional retail space and an outlot. Outlots, or pads, are standalone sites on which a customized space can be built and/or leased for a tenant.
