The grocery firm scooped up about 11.2 acres adjacent to its current headquarters and distribution center in a quick closing that will give it the potential to expand the facilities in the future, Randy Grouskay, with Colliers International tells GlobeSt.com "They moved very quickly and with great agility," Grouskay said of the deal, which took only 40 days to complete.

Grouskay said the property, located at the southwest corner of 56th Street and Chandler Boulevard, was never actively marketed although billboards on the site indicated it was for sale. Other potential buyers, all "very qualified," made offers on the land but it took Bashas' $3 million bid to finally seal the deal, he said.

"It was really the last large parcel near their headquarters," Grouskay said, noting that the acreage is situated just a half-mile from Interstate 10, making it the ideal location for the chain's distribution operation. The grocery firm, which owns Bashas, Food City and the upscale AJ's supermarkets in the Valley, has no immediate plans to build on the site, but will hold it for future expansion, he said.

The site is one of the largest remaining industrial parcels along Chandler Boulevard, which has recently undergone a building spurt that included the construction of a 1.3-million-sf upscale shopping center that encompasses the Chandler Fashion Center Mall along with the adjacent Chandler Festival, Chandler Gateway and the Boulevard Shops.

Grouskay represented the seller, Bingham Investment Co. of Mesa in the transaction. Carl Johnson of Scottsdale's Johnson & Associates handled the transaction for Bashas.