SCOTTSDALE, AZ (October 15, 2014) – Commercial real estate developer, SimonCRE announces a land purchase of approximately one-acre in Payson, AZ. The parcel is on the southeast corner of the major thoroughfare through town, Highway 87 and Bonita Street. Once a service station, the vacant lot has been bladed and has remained empty for years. SimonCRE plans a new development on the location with construction slated to begin in approximately six months.
“This parcel of land is in a prime area of town along Highway 87, which is the major connector between Payson and the Phoenix area,” says Joshua Simon, president of SimonCRE who is developing the site. “We are in preliminary talks with multiple retailers and restaurateurs to see which will be the best fit for the community. As Payson grows, with the anticipated expansion of an Arizona State University campus, this highly visible retail location, once developed, will bring a needed addition to the neighborhood.”
The central Arizona community is preparing for an Arizona State University campus on the eastern side of the city as 250 acres of land owned by the U.S. Forest Service has been approved for direct sale for the project. While there are still multiple steps before the project materializes, businesses are already planning for the needs of a growing community. The addition of retail and restaurants, including quick service restaurants, will accommodate the influx of co-eds studying for four-year degrees.