Village at Prasada is an outdoor shopping centre being developed in Surprise, Arizona, US.
SimonCRE, a commercial real estate acquisition and development company, is developing the project as part of the Prasada mixed-used development. Ground-breaking for the project took place in December 2021.
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The shopping centre is being developed with an estimated investment of $500m. It is being opened in phases with several retailers already operating and more expected to commence operations in 2023.
Location details
Village at Prasada is located on the southeast corner of Waddell Road and Loop 303 in the West Valley region of Maricopa County in Surprise, Arizona.
It is being developed within the Prasada mixed-use development, which will include a wide range of residential, commercial, recreational, educational and cultural elements. Announced in 2005, Prasada will include more than 100 acres of land for commercial use, 14,000 single-family homes, 340 multi-family homes, a hotel and other amenities.
The West Valley region is within the Phoenix metro area and is home to more than 1.6 million people. It is one of the fastest-growing regions in Surprise, with its population projected to grow at twice the national average rate in the next five years. It is also expected to account for 43% of growth within Maricopa County in the next few decades.
Village at Prasada shopping centre details
Village at Prasada spans over 700,000ft2 and comprises retail avenues, dining and entertainment concepts. The project development plan consists of multiple phases, with each adding significant square footage to the project.
Phase one construction commenced in December 2021 and has already been completed, adding more than 308,640ft2 of space. Phase two will add another 250,000ft2 to the development.
Retail, dining and entertainment offerings at the Village at Prasada
Village at Prasada will feature major retailers and restaurant concepts.
Retailers already open at the mall include Five Below, Floor & Decor, TJ Maxx, HomeGoods, Marshalls, Five Below, Ulta, PetSmart, Mattress Firm, Ross Dress for Less and Sprouts Farmers Market. Backfit Health & Spine, a physical health services provider, and Brakes Plus, an auto repair shop, are also operating there.
Other retailers that are planning to open include Hobby Lobby, Burlington Coat Factory, Bath & Body Works, Dick’s Sporting Goods, Buckle, Kohl’s, Famous Footwear and Claire’s.
Dining options include Arby’s, Black Rock Coffee, Panera Bread, Buffalo Wild Wings, Cooper’s Hawk Winery & Restaurants, Habit Burger Grill, Jersey Mike’s Subs, Nekter Juice Bar and Taco Bell, among others.
OHSO, a local nano-brewery and distillery, Barrio Queen, an authentic Mexican restaurant, Lou Malnati’s Pizzeria, Cold Beers & Cheeseburgers, Firebirds Wood Fired Grill, Five Guys, Noodles & Company, Chick-fil-A, Carl’s Jr, and Blue Sushi Sake Grill are expected to open soon.
The shopping centre also features the Fat Cats entertainment concept covering an area of 61,000ft2 and comprising a bowling alley, laser tag, games arcade, mini golf and a movie theatre with recliner seating.
Financing
Gantry, a mortgage banking firm based in the US, secured a $53.4m permanent loan in June 2023 to retire the construction debt for phase one of the retail project.
Contractors involved
The general contractor involved in the development of Village at Prasada is Haydon Building, a construction company.
Suite 6 Architecture + Planning, an architecture firm, designed some of the retail outlets at the mall including those of Cold Beer & Cheeseburgers, OHSO and Lou Malnati’s.
RKAA Architects, an architecture firm, and Vertical Design Studios, an architecture and interior design company, are also involved in the project.
Prasada North shopping centre details
SimonCRE is developing another shopping centre called Prasada North at the Prasada mixed-use development. It acquired 34.66 acres of land across the Village at Prasada shopping centre in Waddell Road along Loop 303 in June 2023 for the project.
Prasada North is expected to be developed with an estimated investment of $100m and will include 350,000ft2 of retail space increasing the total retail space in Waddell Road to one million square feet.
It will feature national retailers such as Target, Boot Barn and Verizon, along with restaurants such as Shake Shack, Portillo’s, Torchy’s Tacos, Ahipoki Bowl, and Einstein Bagels. It will also feature drive-through eateries and other shops.
