Phoenix, Arizona – This the second PAD that sold in the same popular intersection off Hunt Highway in the Town of Florence. Florence is one of the oldest towns in Pinal County and in recent news, the economic development in Florence is showing huge momentum for new residential homes, commercial real estate, and land developments for possible medical, retail and/or industrial opportunities. Director of Retail & Sales Investments, Rommie Mojahed with SVN represented the seller and buyer in the transaction.
Less than a year ago, Rommie Mojahed sold just around 1.5 acres to the Circle K Corporation to build a new Circle K, which is already under construction. His latest sale consists of four acres. located on the southeast corner of Hunt Highway & Merrill Ranch Rd., which sold for $950,000. The buyer, a long-time client Tony Quintana with Hunt Highway Holdings, LLC saw the opportunity in the growing town of Florence. He is looking to potentially develop on site or sell the PADS. It is located right across the street from Anthem at Merrill Ranch, a master-planned community from a mix of homebuilders, including D.R. Horton, Pulte, and Del Webb. Mojahed also represented the seller, Tim Keyes with Anthem Corner, LLC. Keyes is an investor from Houston, Texas who just wanted to sell the parcels with no further plans from the sale.
Mojahed stated, “The southeast valley is continuing to expand to Florence and Coolidge. It is exciting to see the residential growth and the commercial growth that is following it.”
The Director of Economic Development, Elan Vallender previously stated, “Residents in Anthem at Merrill Ranch have expressed a desire to see more dining options and community services-based businesses.” The area continues to attract national tenants. The Safeway-anchored shopping center is full of retail and restaurants as well as banking institutions and more. There are still some retail PADS on the northwest corner available. Mojahed said, “We hope that we will be able to bring in some fast-food concepts, sit down dining restaurants and retail shops that will bring more dining and shopping experiences for the residents in the area.”
For more information on the parcels still available, you can reach Rommie Mojahed at SVN | Desert Commercial Advisors in Phoenix, AZ.