Surprise does not get a stack of grocery centers on this page. One public report was opened that puts a supermarket inside a multi-tenant project in the city. Shopping Center Business on February 14, 2025 described Sterling Grove Shopping Center as a grocer-anchored property in Surprise, roughly 30 miles northwest of Phoenix, developed in 2023 on 19 acres. The article says a 63,290-square-foot Safeway is the anchor, with 22,500 square feet of connected retail across five buildings, plus a Safeway fuel station, McDonald's, Starbucks, and Taco Bell. It describes the property as fully leased. The senior-financing dollar in the article is not repeated. Square feet identify the building. They are not a sales benchmark.
Because the article calls Safeway the anchor tenant, the working assumption is that the grocer lease is part of the center a lender would read. Confirm that with the lease and the survey before a term sheet treats fuel, the pad restaurants, and the supermarket as one borrowing entity. They may be separate parcels even when one article describes one project. The banner's corporate story, including the ended Kroger merger, is Safeway and Albertsons centers. The shadow contrast, where Safeway was excluded, is Goodyear grocery-anchored retail.
What a 2023 Surprise grocer lease changes about the source
A center delivered in 2023 still has a long anchor term if the lease followed a typical new-store pattern, but the term is in the Safeway document, not in the article. Life companies and banks like that remaining term when the shops are leased too. Those paths are life company and Arizona bank. A refinance of a center that is already built and leased is Arizona refinance, not a construction draw. Bridge is the wrong first call if the article's 'fully leased' description is still true. If a pad is dark, say so. The city hub is Surprise. Statewide grocery structure is Arizona grocery-anchored centers. Arizona retail is every other shopping format.
No Surprise grocery tombstone is published. Sterling Grove's financing, as reported, was arranged by another firm for the developer named in the article. Capital Market Funds does not adopt that closing, that lender, or that dollar. The license on this desk remains Capital Market Funds, LLC - CBK-2007014 - Commercial Mortgage Banker and NMLS 1445066, in Scottsdale.
Surprise market context
- Sterling Grove includes the Safeway
- A February 14, 2025 report described a 2023 Surprise center, 106,000 square feet, anchored by a 63,290-square-foot Safeway, with fuel and restaurant pads, and fully leased at the time. Shopping Center Business, February 14, 2025
Sources for an in-line Surprise Safeway
| Source | When it fits |
|---|---|
| Life Company | A 2023 Surprise center with Safeway inside the collateral is a life-company shape if the remaining term is what the carrier wants. |
| Bank | A bank hold fits the same in-line Safeway lease when the sponsor wants a relationship lender rather than a conduit. |
| Bridge & Private | Bridge is not the default on a center the 2025 article called fully leased. It fits only if a pad has since gone dark. |