Kidder Mathews has arranged the sale of Safeway at Merrill Ranch, a ±57,860-square-foot property located at 3325 N. Hunt Highway in Florence, Arizona for $10,200,000 at 5.15% cap rate. Commercial brokers Jenette Bennett, CCIM and Jeff Brown represented the owner in the transaction, which included a long-term, absolute NNN lease with Safeway as the existing tenant.
Built in 2017, the grocery store at Merrill Ranch is a trophy asset at the high-visibility corner of N. Hunt Highway and Merrill Ranch Parkway — anchoring all retail at the popular complex including Starbucks, McDonald’s, Subway, and Wells Fargo. Merrill Ranch is home to Anthem, a high-income master-planned community, and Safeway serves as the only grocery store within eight miles.
“The transaction demonstrates that investors value long-term, high-quality investments regardless of momentary market factors such as interest rates,” said Bennett.
About Kidder Mathews
Kidder Mathews is the largest fully independent commercial real estate firm in the Western U.S., with over 900 professionals in 19 offices across Washington, Oregon, California, Idaho, Nevada, and Arizona. We offer a complete range of brokerage, appraisal, asset services, consulting, and debt & equity finance services for all property types. Kidder Mathews averages over $10 billion in transaction volume, manages more than 57 million square feet of space, and conducts 2,600 appraisal, consulting, and cost segregation assignments annually. For more information, visit kidder.com.
