Sprouts Farmers Market has opened a new 180,000-square-foot corporate headquarters campus in Phoenix as the specialty grocer continues to expand its store and distribution network.
Located within the CityNorth development, the seven-acre campus includes a four-story, 144,500-square-foot office building, a 25,000-square-foot flagship Sprouts store and additional retail and restaurant space. The new office building is designed to accommodate more than 1,000 employees, according to Keyser Commercial Real Estate, which announced the opening in September.
According to the release, “the customized headquarters provides a workplace that aligns with Sprouts’ culture, enhances employee experience, and positions the organization within one of Arizona’s most desirable corporate environments.”
In addition to the headquarters and Sprouts store, the development includes approximately 11,000 square feet of space designated for high-end retail and restaurants and a three-story parking garage. The new corporate campus represents a significant expansion from Sprouts’ previous headquarters at The Offices on High Street in Phoenix, which encompassed approximately 96,000 square feet.
Sprouts’ initial lease term for the new headquarters campus is 10 years, with total non-cancellable lease payments of approximately $110 million, according to a Securities and Exchange Commission filing. The agreement also includes an option to renew the lease for another 10 years.
The headquarters opening comes as Sprouts continues investing in its broader growth strategy. The grocer has plans to enter New England and the upper Midwest while strengthening its presence in Texas through additional stores and self-distribution facilities.
The new campus adds to Sprouts’ presence in its home market of Phoenix as the company continues expanding its footprint nationwide.
(847) 277-9500