Prime Development Lots in the Core Trade Area of Prescott

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Prescott, Arizona’s downtown core is heating up and the opportunities are diminishing. In-fill lots are becoming scarce, and pricey.

Seven Lots: Ready

Located just a few blocks north of Prescott’s famous Whiskey Row and the Downtown Courthouse Square are seven contiguous lots, ready for development.

At the bend in the road where Montezuma Street becomes Whipple Street and at the 4-way controlled intersection of Merritt Avenue, you will find one acre of ready to develop prime real estate.

The property is positioned on one of Prescott’s most traveled corridors, Montezuma Street. It’s the artery most traveled by residents in the north-to-south movements… and, their east to west movements. It’s the primary route to Yavapai Regional Medical Center, Super Walmart, Safeway and Williamson Valley Road.

But let’s get back to Prescott’s trade core. Although the 10-mile market radius services about 125,000 people, the bulk of the traffic density is jammed into about 3 square miles. Peak traffic can hit 40,000 vehicles per day, depending on the time of year and the events that make Prescott a destination city.

CLICK HERE FOR THE MARKET BROCHURE

These parcels are contiguous, flat and zoned “Neighborhood Oriented Business” by the City of Prescott. [Read more…]

Retail Tragedy and Triumph

Prescott retail commercial real estateNo, the dark moments of 2008 are not yet behind us. The Prescott and Prescott Valley, Arizona retail markets appear to be booming…emphasis on “appear.”

Looks can be, and often are, deceiving. Our local retail shopping centers we may be repeating history by overbuilding in a flat market that cannot sustain the economic demands of retailers.

Hearing the Giant Sucking Sound

Prescott and Prescott Valley are now two distinct retail markets with minimal consumer crossover. Frontier Village was Yavapai County’s first major retail mall. Prior to its development consumers shopped at what was then called “Ponderosa Plaza” located on Gail Gardner Way between Willow Creek Road and Iron Springs Road. At this point in retail history, Prescott Valley was still in a state of retail infancy.

As a result of the housing boom [Read more…]

Lease Opportunity – Historic Prescott

Jack in the Box Prescott AZ Drive ThroughDrive through restaurants are in demand. Downtown drive through restaurants are in greater demand. Now, add to this fact that we have a former Jack in the Box drive through restaurant now available for lease and it’s located just three blocks from Prescott, Arizona’s historic downtown square and Whiskey Row.

Everyone in Prescott, and most repeat visitors, know the location. The traffic is an enormous 40,000┬▒ vehicles per day in the peak season.

Located on East Gurley Street, the property is on the main ingress/egress for nearly 1,000,000 annual visitors to Prescott.

DOWNLOAD THE FEATURE SHEET

In order to prepare the property for immediate availability, the initial demolition work has been completed by the Landlord, at Landlord’s cost. Environmental mitigation and clearance report is available.

The property was recently sold to a new owner and the City of Prescott completed curb, sidewalk and entry work on the west side of the property. According to Donald Teel, a Principal partner with Commercial Properties Northern Arizona, “This property is undoubtedly the best drive through entry and exit location for the downtown area.”

VISIT THE WEBSITE FOR MORE INFORMATION

Prescott AZ Drive Through Aerial

For current availability and leasing information, please contact Donald Teel by email or, if you prefer, contact him by phone at (928) 777-8100.

Road Kill: Tenant Trough, Part 2

Here we are again, with time on our hands to engage in a little Commercial Real Estate Road Kill where we can shoot the breeze about CRE. This is a continuation of my rambling discussion about the current “The Tenant Trough” that is impacting office and retail owners.

This was shot while tooling down Interstate 40 between Flagstaff and Kingman, Arizona. It’s all part of a new feature for this blog entitled CRE Road Kill. Stay tuned for more CRE Road Kill.


Donald Teel is a Senior Associate and Principal with Arizona Commercial, an Arizona commercial real estate brokerage and property management firm, headquartered in Prescott, Arizona. Need more information? Please call 1-877-777-9100 or, if you prefer, you may email Donald Teel