A new 105,790-square-foot, grocery-anchored retail center is under development in the northwest part of the Valley just west of the Loop 303.
Called Sterling Grove Shopping Center, the $27 million retail project will consist of a 63,290-square-foot Safeway, 20,000 square feet of connected retail space and 22,500 square feet between five standalone buildings on about 20 acres in Surprise.
The center will be developed on the northwest corner of Peoria Avenue and Cotton Lane and will add to the limited amount of retail space that’s currently available in the West Valley.
The project, which is being developed by Phoenix-based Common Bond Development Group and built by general contractor A.R. Mays., is expected to be completed in early 2023.
Common Bond Development purchased the overall 52-acre site in February for about $4 million from Suburban Land Reserve, a real estate arm of the Church of Jesus Christ of Latter-day Saints, according to real estate database Vizzda.
It will also be located just south of Sterling Grove, a 780-acre master planned private golf community, and the planned Village at Prasada, a 700,000-square-foot shopping, entertainment and dining center. The company said it’s close to to signing additional leases, but Safeway is currently the only known tenant.
“Surprise has grown nearly 300% over the past decade plus, including an influx of young families and working professionals seeking new shopping, dining and entertainment options,” said Common Bond principal, Brian Frakes, in a statement. “We’ve been looking for just the right location for years now, and jumped at the opportunity to secure this expansive former farm property right off the 303 freeway and on the border of Surprise and Glendale.”
The retail center was specifically designed to dovetail into Toll Brothers’ new neighborhood featuring multiple parks surrounded by verdant gardens and a golf course, the company said.
Common Bond Development Group’s other projects include The Global Ambassador hotel in Phoenix in partnership with Sam Fox and another Safeway-anchored shopping center in Queen Creek called Ironwood Shopping Center.
Interested tenants can contact Alex Clark at Common Bond Development Group, which was founded in 2014.
