Payson Center, the property on the southeast corner of the intersection of Beeline Highway and Highway 260 has been sold for $4.9 million dollars to BP Properties of Prospect Heights, Ill.
"(BP Properties) thinks Payson is a good community and a great town. We think it is going to continue to grow and we really believe in it," said Gus Pablecas, president of BP Properties.
"We want to give the center a boost," he continued. "We want to give the center a cleaner look and make it more attractive from the street. It has a lot of potential, and we plan to invest considerable money into it."
Right now, the property is being painted, and assorted improvements are planned for the future.
The property was 100 percent occupied at the time of the initial transaction. Pablecas said he knew Goodwill had made a decision to leave at the end of its lease in 2006, and he is in the process of trying to locate new tenants for the facility.
"We would consider breaking the space up into smaller units," he said. "I would like to see a nationally recognized tenant in there to complement the center."