SCOTTSDALE, AZ — Sprouts Farmers Market Inc. has signed a long-term lease to occupy the grocery anchor store at Papago Plaza.
Sprouts (Nasdaq: SFM) will slide into a 23,000-square-foot space at the base of a 172-space, two-story parking garage above it at the shopping center being redeveloped in Scottsdale. With a lease secured, owner Pivot Development expects construction of the grocery store and garage to kick off in early 2023 with an opening date sometime in 2024.
Sprouts will have frontage, signage and visibility on Scottsdale Road.
“The neighborhood has long requested a high-quality grocer,” said Lee Mashburn, president of Pivot Development, said in a statement. “We are very excited to satisfy the request of nearby residents and businesses. The intersection of Scottsdale and McDowell roads is highly desirable since it offers access to thousands of residents and businesses. More than 4,000 new residential units are being built in the surrounding area.”