Press Releases
Marcus & Millichap Brokers $10.2M Sale of Safeway Grocery Store in Florence, Arizona
October 22, 2024
FLORENCE, Ariz., Oct. 22, 2024 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a net-leased Safeway grocery store in Florence, Arizona. The property sold for $10.2 million.
“We were pleased to assist our client in using the property to satisfy his 1031 requirement,” said Mark Ruble, executive managing director investments. “We were happy to structure a mutually beneficial deal for all parties involved.”
Mark Ruble, Scott Ruble, Chris Lind and Zack House, investment specialists in Marcus & Millichap’s Columbus and Phoenix offices, procured the buyer, a limited partnership.
The Safeway location is on 6.39 acres at 3325 N Hunt Highway. Built in 2008, the 57,860-square-foot store is situated at the intersection of Merrill Ranch Parkway and N Hunt Highway with neighboring retailers including Subway, Mcdonald’s and Circle K.
“We were pleased to assist our client in using the property to satisfy his 1031 requirement,” said Mark Ruble, executive managing director investments. “We were happy to structure a mutually beneficial deal for all parties involved.”
Mark Ruble, Scott Ruble, Chris Lind and Zack House, investment specialists in Marcus & Millichap’s Columbus and Phoenix offices, procured the buyer, a limited partnership.
The Safeway location is on 6.39 acres at 3325 N Hunt Highway. Built in 2008, the 57,860-square-foot store is situated at the intersection of Merrill Ranch Parkway and N Hunt Highway with neighboring retailers including Subway, Mcdonald’s and Circle K.
# # #
About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
