Empire Group of Companies has replaced Diversified Partners with SimonCRE to complete the buildout of a proposed 120,000-square-foot retail center in Carefree. The Phoenix Business Journal reports the move was made due to an issue with delivering tenants. The Carefree Quarter project is expected to cost $60 million to build. The development will break ground in early 2027. Empire Group acquired the land in 2017 for $6.5 million.

The plan is for a 30,000-square-foot grocery store with a 16,000-square-foot building attached. There will also be three shops and eight pad buildings ranging in size from 1,700 square feet to 4,700 square feet,

Empire is working on a project in downtown Phoenix that will become Arizona’s tallest tower. Arro is a 1.8 million-square-foot development that includes two towers, each home to a hotel, residential units, a restaurant and office space. Anticipated groundbreaking is early next year.

Walls have been tilted at Colton Commerce Center, a four-building 182,123-square-foot Class A industrial park with buildings ranging from 40,000 to 50,000 square feet located in a federally designated Opportunity Zone at 2245 West Valley Blvd. in Colton. The buildings at this Inland Empire development are available for sale or lease, with construction scheduled for completion in December 2025. 

JLL’s team of Cody Clayton, Scott Coyle and Jay Cuccia are marketing the property on behalf of ownership. “Unlike standard industrial building acquisitions, which offer no capital gains deferral or exemption, ownership at Colton Commerce Center allows buyers to eliminate federal capital gains tax on appreciation if held for 10 years, translating into millions in long-term savings,” said Clayton.

He continued, “Purchasing one of the buildings at the property would allow owner-users to avoid exposure to future rent and building cost increases while securing space in one of the most sought-after industrial markets in the United States.”

On June 18, join industry-leading experts when they explore the most important topics in today’s CRE markets. Register to attend and hear expert insights first-hand, network with the best in the industry, and sit in on discussions you won’t hear anywhere else. The 9th Annual Connect Los Angeles 2025, June 18 at the Intercontinental Los Angeles Downtown.