Phoenix retail underwrites the city's shopping property as a class: rollover, local tenants, and which capital source will hold a strip or a larger center. It does not isolate a named supermarket lease. This page does. Shopping Center Business reported on November 18, 2025 that Phoenix Commercial Advisors had arranged a sale of Ninety Ninth Ave, a 47,201-square-foot grocery-anchored center in Phoenix, newly constructed in 2024 on 5.3 acres. The article says it was fully leased to a mix including Sprouts Farmers Market, CAVA, Hand & Stone, and Mountain Mike's Pizza. The price is not restated. Sprouts' store page titles the location Phoenix-99th Ave. and gives 9824 W. McDowell Road, Phoenix, AZ 85037. Use Phoenix, because both of those sources do.
A 2024 delivery with a specialty grocer and a short list of shops is a remaining-term file, not a 1970s renewal file. Sprouts' 10-K says the company leases stores, typically starting at 10 to 15 years. That typical range is not this lease. Ask for the Ninety Ninth Ave lease. The operator note is Sprouts-anchored centers. Neighborhood Market reports at Happy Valley and Dunlap are a different format on Walmart Neighborhood Market centers. Do not staple those addresses to McDowell.
A new Phoenix grocer lease is a refinance or a permanent hold, not a slogan
If the center is still as fully leased as the November 2025 article said, the next capital is permanent: Arizona bank or life company, or a refinance of whatever acquisition debt is in place through Phoenix refinance. If a shop has gone dark since that article, say so before anyone models the sale-date rent roll as current. Bridge, via Arizona bridge, is for that gap, not for a calm Sprouts lease. The city hub is Phoenix. The grocer taxonomy is Arizona grocery-anchored centers. Arizona retail stays the state page.
Ninety Ninth Ave is not a Capital Market Funds tombstone. The article names another brokerage. We do not adopt the price or the parties. A later financing request is arranged from Scottsdale under Capital Market Funds, LLC - CBK-2007014 - Commercial Mortgage Banker and NMLS 1445066.
Sources for a 2024 Phoenix Sprouts center
| Source | When it fits |
|---|---|
| Bank | A 2024 Phoenix center with Sprouts and a handful of shops is a bank conversation when the leases are inside one borrowing entity. |
| Life Company | Life company interest depends on the Sprouts term actually signed at McDowell, not on the 10-K's typical range. |
| Bridge & Private | Bridge fits Ninety Ninth Ave only if the fully leased picture in the 2025 article has broken. |