The Kroger Co. acquired 20.2 acres located north of the northeast corner of W. Happy Valley Rd. and N. Lake Pleasant Pkwy in Peoria, AZ for $5 million, or about $248,000 per acre.
Construction of a new Fry’s Grocery Store is projected to start this month, with an anticipated delivery date in late 2016.
Ed Beeh, Brian Polachek and Alan Houston of SRS Real Estate Partners represented the seller.
Greg Laing of Phoenix Commercial Advisors represented the buyer.