Goodyear market context
- Estrella Parkway and Elliot Road
- Hanley's February 4, 2026 release locates Mountain Ranch Marketplace at that Goodyear corner and says Safeway shadow-anchors the center but was not included in the sale. Hanley Investment Real Estate Advisors, February 4, 2026
Goodyear grocery collateral, in the source that was opened, is not a Safeway lease. Hanley Investment Real Estate Advisors wrote on February 4, 2026 that it had completed a sale of Mountain Ranch Marketplace, a 49,683-square-foot neighborhood center in Goodyear, and called the property Safeway-shadow-anchored. The release places the center on 12.4 acres at the northwest corner of Estrella Parkway and Elliot Road, with addresses 9860 South Estrella Parkway, 17626 West Elliot Road, and 17650–17670 West Elliot Road. It says the center was originally built in 2009 with additional construction in 2024. It lists shop tenants such as AutoZone, Starbucks, Papa John's, Subway, Leslie's, Verizon, and others. Then it lists tenants not included in the sale: Safeway, McDonald's, Taco Bell, Walgreens, and Chase Bank. The price is omitted. So are rankings and growth claims that the release uses as marketing.
Shadow-anchored, in that release's own words, means the grocer draws customers while sitting outside the property that traded. A new loan on the shops has the same shape. Income is the shop rent roll. Dependence on Safeway is an easement and a parking question, not a tenant credit the borrower can estop. The national version of that stack is shadow-anchored retail. The same banner, included inside a Surprise center, is Surprise grocery-anchored retail and Safeway and Albertsons centers.
Estrella shops are not the Surprise Safeway lease
Sponsors sometimes send both West Valley Safeway stories in one email. Sterling Grove's Safeway was described as the anchor tenant of a 2023 center. Mountain Ranch's Safeway was described as excluded. The Goodyear city hub covers the city's commercial mortgages without this parcel split. Arizona retail is broader still. This page exists so the Estrella shops are not priced as if Safeway paid rent there. Life companies that want a grocer lease in the collateral will often pass, or they will size only the shops. That conversation is life company. A conduit that will take shadow traffic plus shop term is Arizona CMBS. If several shops are vacant while the Safeway next door stays busy, the hold is Arizona bridge until the rollover is leased. The pillar is Arizona grocery-anchored centers.
Nothing in the Hanley release is a Capital Market Funds closing. The buyer and seller named there are not clients described on this site. Arranging a later loan on the shops, if someone asks, starts from Scottsdale under Capital Market Funds, LLC - CBK-2007014 - Commercial Mortgage Banker and NMLS 1445066.
Sources for Goodyear shops without the grocer rent
| Source | When it fits |
|---|---|
| CMBS | Goodyear shop space beside an excluded Safeway is a shadow file. Conduits sometimes hold that income when the easement is clean. |
| Bridge & Private | Vacant Estrella shops, with the grocer next door rather than in the rent roll, are a private-bridge fact pattern until leases land. |
| Bank | A bank can still hold the shops. It should not be shown a Safeway lease the borrower does not have. |