SVN | Desert Commercial Advisors in Phoenix has sold 4 acres of land on the southeast corner of Hunt Highway and Merrill Ranch Road for $950,000.
This is the second commercial property to sell in the same popular intersection in Florence. Economic development in Florence is showing momentum from new residential homes, commercial real estate and land development for possible medical, retail and/or industrial opportunities.
SVN Director of Retail and Sales Investments Rommie Mojahed represented the seller and buyer in the transaction.
“The Southeast Valley is continuing to expand to Florence and Coolidge. It is exciting to see the residential growth and commercial that is following it,” Mojahed stated in a press release.
Less than a year ago, Mojahed sold about 1.5 acres to the Circle K Corp. to build a new Circle K, which is under construction. The buyer for this second property is long-time client Tony Quintana with Hunt Highway Holdings LLC. He is looking to develop on site or sell the land. The 4 acres is 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.
Florence’s Director of Economic Development Elan Vallender has 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 available retail parcels on the northwest corner.
“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,” Mojahed stated.
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