Empire Group Brings On SimonCRE to Oversee Carefree Retail Center Venture

Why It Matters

Bringing SimonCRE on board aims to resolve tenant‑placement challenges and keep the $60 million retail project on schedule, boosting local job growth and reinforcing Empire’s foothold in Arizona’s booming mixed‑use market.

Key Takeaways

• Empire replaces Diversified Partners with SimonCRE for Carefree project
• $60M, 120k‑sq‑ft retail center slated to break ground 2027
• Includes 30k‑sq‑ft grocery, 16k‑sq‑ft annex, plus 11 smaller shops
• Empire also developing Arizona’s tallest tower, 1.8M‑sq‑ft Arro complex
• Land bought in 2017 for $6.5M, now poised for major retail hub

Pulse Analysis

The Phoenix metropolitan region continues to attract large‑scale mixed‑use projects as population growth fuels demand for retail and residential space. Empire Group of Companies, a seasoned developer in Arizona, has recently tapped SimonCRE to steer the next phase of its Carefree Quarter venture. The change follows difficulties in securing anchor tenants under the previous manager, Diversified Partners. By bringing in SimonCRE, known for its tenant‑placement expertise, Empire aims to accelerate the 120,000‑square‑foot retail center’s timeline and align the offering with evolving consumer preferences.

The Carefree Quarter is projected to cost roughly $60 million, with construction slated to begin in early 2027. The layout features a 30,000‑square‑foot grocery anchor, a 16,000‑square‑foot adjoining building, three boutique shops and eight pad structures ranging from 1,700 to 4,700 square feet. Empire originally acquired the 12‑acre parcel in 2017 for $6.5 million, positioning it for a high‑visibility retail hub that serves both local residents and tourists traveling the scenic desert corridor. Securing a strong tenant mix is critical to achieving the anticipated return on investment and generating employment opportunities in the region.

Empire’s simultaneous pursuit of the Arro development—a 1.8‑million‑square‑foot, two‑tower complex that will become Arizona’s tallest building—signals a broader strategy to dominate both retail and vertical mixed‑use markets. By aligning the Carefree Quarter with its larger portfolio, Empire can leverage cross‑project synergies, such as shared financing channels and branding momentum. Analysts view the dual rollout as a hedge against market volatility, positioning the company to capture rising consumer spending while mitigating risk through diversified asset classes.