PDG America purchased a 29-acre parcel at the corner of 48th Street and the Carefree Highway where the Phoenix-based developer plans to build Carefree Marketplace, a 250,000-sf, grocery store-anchored retail project. A Fry's Food & Drug store will anchor the project.
Construction on the project is set to begin in early 2001. The parcel lies on the border between Phoenix, Carefree and Cave Creek. That section of the Valley has a concentration of upper-end homes on acre-sized lots and has experience increased growth in the past five years as more and more residential development moves northward.
PDG America has teamed with Regency Realty of Texas in the development.The Phoenix office of Arizona Land Advisors negotiated the land purchase.
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