SCOTTSDALE, AZ-Cavan Investment, based here, is moving forward on plans to develop a 47,000-sf retail project in north Scottsdale. Later this month, Cavan will break ground on the retail component of Raintree Corporate Center, a 54-acre office-retail project that is east of Loop 101 and north of Raintree Drive.The project’s retail offering will have shop space totaling 47,000 sf and retail pads for another 20,000 sf.

Target General Inc. will serve as the general contractor on the project, which has been designed by Phoenix-based DFD Architecture. The Scottsdale office of Ebert & Rehorn is the leasing agents for the retail project.

The 54-acre Raintree includes two 64,000-sf office buildings and an 11-building office condominium project called the Offices at Raintree Corporate Center. Cavan has already developed 360,000 sf of class A office space in the park.

The firm also is under development on a 150,000-sf speculative office building in the park not far from the retail site. The three-story office building will deliver by November. A similar size spec project will get under way after the first phase is leased up. The Phoenix office of Lee & Associates, with brokers Bill Blake and Craig Coppola, are the leasing agents on the office project.