Sprouts Farmers Market is trading paintbrushes for produce at a North Phoenix shopping center, signing a lease for the space now occupied by a Michaels arts-and-crafts store. The Phoenix-headquartered grocer is using the deal as another step in its local expansion push, and the new fresh-food anchor could reshape daily traffic patterns around the center. An opening date and buildout timeline have not yet been announced.
According to the Phoenix Business Journal, the lease covers the existing Michaels space and was reported July 14, 2026, as part of Sprouts' broader expansion activity. The report did not include square footage details or a projected opening date for the new Sprouts location.
Sprouts' Growth Push
Sprouts executives told investors in the company's first-quarter presentation that the grocer has "nearly 150 new stores approved" and more than 105 executed leases in its pipeline, signaling an aggressive unit-growth plan. Those specifics, along with the company's 2026 unit targets, were laid out in its Q1 materials and earnings transcript, as reported by MarketBeat.
Why The Anchor Shift Matters
Grocery-anchored centers often post lower vacancy and command rent premiums compared with non-grocery formats, a trend retail researchers and brokers have flagged, according to REJournals. Local property listings and leasing materials also show Sprouts appearing as an anchor at multiple Phoenix-area shopping centers, underscoring the brand's established role in regional retail portfolios, per SITE Centers.
Local Footprint And Next Steps
Sprouts is headquartered in Phoenix and operates hundreds of stores nationwide, with company materials highlighting new-store growth and supply-chain investments as core priorities for 2026. The retailer's investor pages emphasize its focus on site selection and execution as it scales, according to Sprouts Farmers Market. Initial reporting did not specify whether Michaels will relocate from the center, the square footage involved, or a firm opening timetable.
The lease was first reported by the Phoenix Business Journal, which noted that an opening date was not yet available. Permitting and lease filings are expected to reveal next steps if and when conversion work on the former Michaels space gets underway.
