Safeway Opens 64,000 SF Grocery Store at Mixed-Use Development in Metro Phoenix

Why this matters

Safeway’s launch of a sizable grocery store within a mixed-use development in suburban Phoenix underscores the enduring appeal of grocery-anchored retail as a stabilizing force in institutional portfolios. In an environment where retail leasing faces ongoing headwinds, grocers continue to attract foot traffic and provide defensive income streams, particularly in growth markets like Phoenix. The Gilmore’s scale and mixed-use nature reflect broader capital-market interest in projects that blend residential, retail, and experiential components to diversify risk and enhance asset resilience. This opening also signals sustained investor confidence in suburban infill locations benefiting from demographic tailwinds and lifestyle shifts accelerated by the pandemic. For lenders, the presence of a creditworthy anchor tenant such as Safeway can mitigate underwriting risk, supporting financing on mixed-use schemes that might otherwise face scrutiny amid tighter credit conditions. More broadly, the transaction illustrates how institutional capital is recalibrating toward assets that combine essential retail with residential density, aligning with evolving consumer preferences and urban decentralization trends. The Phoenix market’s continued absorption of such projects will be a bellwether for capital flows into Sun Belt mixed-use developments in the near term.

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On the RET wire

• The seventh Phoenix story tracked on the wire in August 2026. All Phoenix coverage →
• Disclosed mixed use deal value tracked in August 2026: $48M across 2 reported transactions. All Mixed Use coverage →

Computed from Real Estate Trail’s own tracked coverage

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