Armstrong Gustine Development Inc. of Pittsburgh purchased the parcel, which also included a former Smith's Food & Drug Center, in a joint deal totaling $3.3 million.Pat Sauer of CB Richard Ellis Inc.'s Phoenix office tells GlobeSt.com that the pharmacy giant will open a 13,000-sf store on the site in September, marking the firm's sixth Valley location. The fitness center, to be located in the former grocery store, will open around the same time, he said.
The joint deal included 1.5 acres purchased for $900,000 from Janice Phelps Anderson of Mapleton, UT, and the 5.4-acre grocery site, owned by Kroger which sold for $2.4 million. Sauer, along with Darren Pitts of CB Richard Ellis, represented the buyer in both transactions. John Badura from Rein & Grossoehme of Phoenix represented Anderson while Larry Ortega from the Phoenix office of Collier's International assisted Kroger in the transaction.
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