The Kroger Co. divisions page lists Fry's Food Stores of Arizona, Inc. at 500 S. 99th Avenue, Tolleson, Arizona, and pairs that division with Phoenix and Tucson. Fry's own Arizona store directory, opened for this page, said Fry's has 131 grocery stores across 34 cities in Arizona. That count is the directory's sentence on the day it was opened. It will move, so a credit memo should not freeze it. Kroger is the parent. Capital Market Funds is not Kroger, not Fry's, and not endorsed by either of them. The statewide map of grocer shapes is Arizona grocery-anchored centers.
Operator identity still matters because Fry's and Safeway were on opposite sides of a merger that did not happen. Albertsons' December 11, 2024 press release says the company terminated its merger agreement with Kroger after the U.S. District Court in Oregon and the King County Superior Court in Washington issued injunctions on December 10, 2024. Fry's stayed a Kroger banner. Safeway stayed an Albertsons banner. Lenders who lived through the divestiture headlines still ask which operator is on the lease and whether a change of control clause is asleep or awake. The Safeway side of that question is Safeway and Albertsons centers.
Gladden Farms: the Fry's box was not the shops being offered
NNN Investment Group's listing for Gladden Farms, at the northeast corner of Tangerine Road and Lon Adams Road in Marana, describes a 2025 center and marks the Fry's Marketplace, with pharmacy and fuel, as NAP. In listing shorthand, NAP means the grocer is not a part of the property offered. The listing limits the offered buildings to the shops and a Heartland Dental outparcel, and it gives the shops' area as 24,470 square feet. AZBEX's August 4, 2026 sales log says three retail buildings at 11320, 11360, and 11370 W. Tangerine Road are part of the Fry's Marketplace-anchored Gladden Farms Commercial Center. This page does not repeat prices or cap rates from either source. The financing point is narrower: a loan on those shops does not, by itself, include a Fry's lease. Treat the grocer as outside the collateral unless a title report puts the box in the borrowing entity. That is the shadow pattern, written up nationally on shadow-anchored retail. Marana sits with the Tucson note at Tucson grocery-anchored retail.
Miller Plaza: the grocer changed, so co-tenancy has to be reread
CommercialSearch reported on April 1, 2025 that a Whole Foods Market was slated to open at Miller Plaza, 7620 E. Indian School Road in Scottsdale, replacing Fry's Food & Drug. The article describes three buildings from 1975. It also reports a refinancing. The dollar amount is left out of this page on purpose. A grocer swap is a co-tenancy and estoppel problem: shop leases may have been written against Fry's being open, and a new grocer does not automatically satisfy that clause. Read the leases. Do not assume the old continuous-operation sentence still describes the tenant in the box. How lenders read those clauses is co-tenancy. If the center is between grocers, the hold is more often Arizona bridge than a life-company quote on yesterday's rent roll. A calm Fry's lease that really is inside the center can still be a bank or CMBS file.
Fry's Anchored centers market context
- Fry's division office is in Tolleson
- Kroger's divisions page places Fry's Food Stores of Arizona, Inc. at 500 S. 99th Avenue, Tolleson, and associates the division with Phoenix and Tucson. The store directory's Arizona count was 131 stores in 34 cities when this page was written. The Kroger Co., Our Divisions; Fry's Food Stores Arizona directory
- NAP means the grocer is outside the shops
- The Gladden Farms listing marks Fry's Marketplace as NAP and describes the offered property as the shops and a dental outparcel, not the supermarket box. NNN Investment Group, Gladden Farms listing
- Miller Plaza changed grocers
- CommercialSearch reported on April 1, 2025 that Whole Foods was slated to replace Fry's Food & Drug at Miller Plaza, 7620 E. Indian School Road, in three buildings completed in 1975. CommercialSearch, April 1, 2025
- The Marana shops have street addresses
- AZBEX's August 4, 2026 sales log describes three retail buildings at 11320, 11360, and 11370 W. Tangerine Road as part of the Fry's Marketplace-anchored Gladden Farms Commercial Center. The price in that log is not repeated. AZBEX, August 4, 2026