Silver Creek Shopping Plaza Is SoldMarch 25th, 2008
By Naomi Hatch
The major portion of the Silver Creek Shopping Plaza was recently sold for $4.1 million.
More than 20 years ago, general partner Kirk Brimhall got together 20-plus investors to build the shopping center in Taylor. He noted that they did it for the benefit of the towns in the Silver Creek community, and that was why they chose the name Silver Creek Shopping Plaza.
Brimhall said the project was made feasible with the help of Frontier Bank and then mayor Roy Palmer, who was one of the investors. Like Brimhall and Palmer, most of the investors had roots in the community.
The intent was to bring economic development to the community, and provide future economic growth and jobs so that people could stay in the community. The investors felt that the creation of these jobs would create more jobs, thus keeping the money in the community.
In 1985, the buildings housing Taco Bell, Coronet and Frontier Bank were purchased by those businesses, with the facilities housing Pizza Hut, Bashas’ and all other businesses to the north being owned by Brimhall and the investment group.
Coronet sold its property to Duckwall-Alco, which recently sold to a Scottsdale investor, who has lined up Dollar Tree as a tenant with a vacancy to the south. Frontier Bank was sold to National Bank of Arizona.
Pizza Hut opened its doors in the shopping center in 1988, with Bashas’ close behind in March 1989.
The recent purchase was made by Douglas R. Field and BL Arroyo de Plata LLC, with a 50 percent share listed for each
Eddie Hancock of Hancock-Leavitt Insurance is nearing completion of a new facility located at Main Street and Cattle Lane, and will be leaving the Silver Creek Plaza soon. Also leaving will be Austin’s Mountain Top Interiors LLC, which will lease office space in Hancock’s new complex.
Brimhall retained the pad south of the former Alco for future development.
“The new owners bring new opportunity for more business,” said Brimhall because of their contacts in the real estate field.
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