Featured in ICSC C+CT on April 28, 2026.

SimonCRE was bucking the trend when it put bulldozers into gear in 2022 for the multiphase Village at Prasada, a 1.3 million-square-foot open-air center in Surprise, Arizona, that delivered in June 2024. “In the 15 years or so since the Great Financial Crisis, it was one of just a couple of centers of that magnitude to be built in the United States,” said SimonCRE founder and CEO Joshua Simon. “Village at Prasada was proof for us that large-format, open-air retail still works when it is done right.”

Ground-up construction of larger retail projects is still relatively rare, but the 60-employee company is building six new open-air centers this year, a $500 million pipeline totaling 1.5 million square feet.

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