Originally Published: July 24, 2005 5 a.m.
PRESCOTT VALLEY – Tim Henrickson's vision for east Prescott Valley is proving profitable after he has sold almost all of the lots in the new Antelope Meadows Business Park to businesses or investor groups after two and a half years of hard work.
Henrickson is the owner of the Desert Development and Design Corporation, which is the developer of the Antelope Meadows Business Park on Highway 169.
"We are almost completely sold out right now," he said. The park – which is across the street from Young's Farm – features about 41 lots, according to Henrickson. Only four lots remain unsold, but two are in escrow.
"This is an industrial park, and it was designed to be an industrial park," he said. "There will be some C2 (commercial) uses in the front, but I elected to go with the industrial to get people like Yavapai Steel and Dewey Pump."
Yavapai Steel is the first operational business in the park, but Henrickson has sold almost all the other lots in the park to businesses or investor groups looking to lease the property. Concrete businesses, contractors, a rock supplier and a roofing company are among the park's future occupants, he said. Henrickson said he noticed demand for an industrial park after realizing that Prescott Valley appeared to have a
majority of retail storefronts.
Theories stating that rocketing demand evolves into rising prices have proven to be true for the business park.
"We opened the doors and started out at about $115,000 per acre, and now they are close to about $200,000 per acre," Henrickson said. Two of the lots are still in escrow, he said.
The Fain Signature Group and the Prescott Valley Economic Development Foundation helped Henrickson by referring businesses to him. Henrickson said the Fain-owned Big Sky Business Park features a different type of industrial business and that the two parks did not compete to attract the same market.
The Antelope Meadows Business Park was once in the middle of a mountain of controversy in late 2003, after the Dewey-Humboldt Community Organization presented about 300 signatures in opposition to the park to the Yavapai County zoning staff.
Dave Prechtel, a key member of the DHCO at the time, said on Friday, "They did not want to see a stark contrast into a heavy industrial park. A compromise was reached in philosophy."
Prechtel, who is also a member of the Dewey-Humboldt Town Council, said that the DHCO halted its opposition after Henrickson agreed to put a commercial buffer along the section of property adjacent to Highway 169.
Henrickson pointed out that the buffer is now selling for $7.50 per square foot, which calculates into about $327,000 per acre. The Town of Prescott Valley annexed the park and Galpin Ford in January 2004. Henrickson said he is grateful to the Town of Prescott Valley for annexing the area.
Larry Tarkowski, the Prescott Valley Town Manager, said the town built a water line connecting to the property, but mentioned that the area's property owners will have to form a facilities district to pay for sewer pipes.
"We will be working with the people down that corridor to form a district to go ahead and start going forward to put in a sewer collection and pumping system," he said. Tarkowski said Henrickson prepared for the town's future extension of pipes by building a large network of sewer and water pipes beneath the business park.
"They have water and fire (hydrants) flow into that park, and that is part of the Town of Prescott Valley," Tarkowski said."
The Town of Prescott Valley, the Arizona Department of Transportation and Henrickson also negotiated an agreement that Henrickson would grade the area in front of the park for the eventual widening of Highway 169. Tarkowski said future development on the corner of Highways 69 and 169 could accelerate the widening of Highway 169.
Contact the reporter at email@example.com