Contact the Economic Development Coordinator

bhooper@pvaz.net
08.07.2019

Rare Infill Opportunity in Grocery Anchored Shopping Center

Vacant land is available for sale and development within a well-established, grocery anchored shopping center along the highly trafficked State Route 69, in Prescott Valley, Arizona. Pruitt’s Fine Furniture, a 60-year-old Phoenix-based family-owned and operated business, recently purchased and redeveloped the property located at 7550 E State Route 69 within the wider Safeway-anchored shopping plaza. Pruitt’s opened for business at the end of March 2019. Part of the Pruitt’s purchase includes approximately six acres of a parking lot that presents multiple opportunities for development.

This property’s central location is within four miles of 11 of the Town’s top 15 employers. Click here to check out a map of the Town’s daytime employment numbers in Prescott Valley’s Central Business District. Additionally, the property is located across Lake Valley Road from the brand new Homestead at Talking Glass Apartments, a 214-unit luxury apartment complex in the heart of Prescott Valley. The property is also catty-corner to the Findlay Toyota Center, a 5500+ seat arena that attracts over 175,000 attendees annually to a myriad of sporting events, trade shows, concerts, and other events. Finally, this property is located within a Qualified Opportunity Zone. Please read the blog on Opportunity Zone benefits and a list of local market demands published earlier this year by clicking here. Briefly, this property would be an excellent location to help fill local market needs for a new hotel and/or a variety of restaurants and service-oriented business options.

While the exact acreage for sale is negotiable based on a number of factors, including the proposed end use and Pruitt’s parking needs, the total acreage for sale is estimated to be about +/- 2.5 acres. The exact location of the acreage is also negotiable but the most likely positioning of any end user, as shown on the blog image above, would be a portion of the southeast corner of the Pruitt’s property, immediately west of an existing small row of inline shops along the frontage road known as Pav Way and/or the land fronting Lake Valley Road, north of the Wells Fargo Bank. Please note that the land at the southeast corner of Pruitt’s property contains a detention area against Pav Way. The Town feels there is a high degree of likelihood the detention area could be eliminated, allowing for better access and positioning of a potential new build, but a drainage study would need to be conducted and submitted to the Town to confirm if the area will indeed still have adequate drainage given current conditions and the proposed new structure(s). Please click here to download a PDF copy of the Pruitt's property image shown above.

Interested parties should contact Ray Cashen with Cashen Realty Advisors at (602)-393-4447 or raycashen@gmail.com. Questions regarding zoning, Town regulations, and market needs should be directed to the Town of Prescott Valley’s Economic Development Coordinator Ben Hooper at (928)-759-3106 or bhooper@pvaz.net. Please do not contact Pruitt’s directly with regards to potential interest in this property.

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