PROPERTY INFORMATION SIZE: 194.32 Acres PRICE: $16,500,000 CROSS STREETS: SWC Interstate 10 and Loop 303 ZONING: AG, PAD: In Goodyear General Plan for Business & Commerce This site is 194.32 Acres in size and was originally the site of a horse racing park which was built in 1964 and opened the following year. This site features excellent visibility and access from Interstate 10 freeway
DEMOGRAPHICS EST. POPULATION: 3-Mile: 38,052; 5-Mile: 95,377; 10-Mile: 350,052 100% Ownership Grandstand & Surrounding Parcels +/- 138.85 Acres EST. HOUSEHOLD INCOME: Averages: 3-Mile: $85,813 5-Mile: $84,372 10-Mile: $73,795 TRAFFIC COUNTS 80% Ownership Pit Parcels +/- 55.47 Acres NORTH - SOUTH: Citrus Road - 4,400 EAST - WEST: Interstate 10-77,200 OTHER TRAFFIC COUNTS: Cotton Lane - 6,350
Employment Outlook The Phoenix Trotting Park in Goodyear is located in the western portion of the Phoenix metro area. While the subject property is in located in one of the metro area s western suburbs, the site has outstanding access to local freeways, allowing much of the area workforce to commute easily to or from the location. Workforce population is fairly limited in the immediate vicinity of the location, but there are more than 160,000 workers within a 20-minute drive of the property and nearly 900,000 workers within a 30-minute drive of the Cotton Lane location. The site is served by both the Interstate 10 and the expanding Loop 303. Many of the major employers in the immediate vicinity of the Trotting Park are large distribution centers. The strong transportation infrastructure in this area, coupled with access to Southern California markets, Mexico and other prominent West/ Southwest markets makes the area a natural fit for these types of employers. Companies such as Amazon, Dick s Sporting Goods, Macy s, and Conn s all have large presences within a few miles of the site, and REI and Michael Lewis Companies each have projects under way that will employ between 100-125 employees at each location. In addition to large, private employers, one of the largest public economic engines in the state of Arizona is located approximately 10 minutes from the Trotting Park. Luke Air Force base is the largest military installation in Arizona, employing more than 8,000, serving more than 100,000 base personnel, military families and retirees and having an economic impact of more than $2.1 billion annually. The base is home to the F-35 training facility, which will be a source of long-term activity in the years ahead. When the drive time is extended to 20-30 minutes from the site, much more of the Greater Phoenix market comes within reach. Downtown Phoenix is located just outside of 20 minutes away from the site and the Phoenix Sky Harbor Airport and Tempe are within 30 minutes of the property. There are a number of large employers in these areas, including Arizona State University, which features more than 12,000 employees and an enrollment of more than 75,000 students. Phoenix Sky Harbor International Airport supports nearly 50,000 jobs and has an economic impact estimated at more than $9 billion annually. American Airlines (after merging with US Airways) and Southwest each have thousands of employees based out of Phoenix. Other prominent employers include Fortune 500 company Apollo Education (parent company of the University of Phoenix), with more than 7,000 workers, Honeywell (9,500 employees) and Freeport McMoRan Copper and Gold (more than 8,000 employees). chaz.smith@colliers.co Also worth noting is the tremendous expansion occurring in Tempe. The city is home to several of the largest planned economic expansions in Arizona. Chief among these is State Farm s 2.1-million square foot regional headquarters overlooking Tempe Town Lake. The facility, which will open in phases beginning in the second half of 2015, will have space and parking for 8,000-10,000 State Farm employees. In addition to the existing transportation infrastructure already in place, the Trotting Park will benefit from another large-scale infrastructure program that is just getting under way. The extension of the Loop 202 will connect the Interstate 10 between 55th and 63rd Avenues. The Freeway will be the last piece to complete the local freeway system. This extension of the freeway will connect the Southwest Valley to the Southeast Valley by looping around the congestion of the city core and Airport area.
Construction In 1960, Phoenix was not the thriving metropolis it is today. Arizona had become a state just 48 years prior, and the capitol city of Phoenix was quite small with a population of just 439,170 people. James J. Dunnigan formed Arizona Harness Raceway, Inc. on June 7, 1961 and purchased a huge plot of land from Karl and Norbert Abel, who owned vast amounts of land in the area. The plan was to build a grandstand with a capacity of 5,400 spectators. Construction began in 1964 on the massive structure, which contained more than 27,000 cubic yards of concrete. The track was originally supposed to cost about $2 million, but the final cost ended up being a whopping $9.5 million. It is not clear who was the architect of the track. According to the 1983 book A Guide to the Architecture of Metro Phoenix by the Arizona Institute of Architects, the Trotting Park was built by Impresa Eugenio Grasetto, Padova Italy (Design Consultant) - Victor Gruen Associates. A 1965 Arizona Republic article also lists Eugenio Grasetto as the architect. However, a 1964 New York Times article and a 1965 Sports Illustrated article both credit the building s design to Ivone Grasetto, also of Padua, Italy. While it is possible that more than one person worked on the design, this has not yet been verified. Operation The Trotting Park opened on January 12, 1965 to a crowd of 12,223 attendees. That first night, more than $130,984 was wagered at the gleaming new facility. The park received a great deal of local press and was even featured in Sports Illustrated magazine and in The New York Times. Closure A 1966 article in Harness Horse Magazine stated that Phoenix Trotting Park had indefinitely suspended racing on December 7, 1966 - after just 2.5 seasons. After racing was suspended in 1966, the building s equipment was removed by the Delaware North corporation for use at their other racetracks. Following the closure, the name was changed to Arizona Equestrian Center. Today The Trotting Park has been closed since 1966. According to a YouTube video, a motorcycle show was held at the park on March 26, 1988. The parking lot was used as an automotive swap meet called AutoSwap USA in 1991. It was featured prominently in the 1998 film No Code of Conduct starring Martin Sheen and Charlie Sheen. *Information sourced from www.phoenixtrottingpark.com This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). 2015. All rights reserved.