THATCHER — Interest in development at Thatcher Commercial Park is high, but the Town of Thatcher said the time isn’t quite right to begin formal negotiations with business developers.
That’s according to Town Manager Heath Brown, who gave an update on the park (formerly known as Red Lamp) at the most recent Town Council meeting.
“First of all, we cannot sell . . . property to someone that didn’t put forth a proposal when we went out the request for proposals (during) the initial offering,” Brown said.
He added he’s had about a dozen inquiries from those interested in developing a business at the park, but none have come forward yet with a fully-realized plan that would necessitate opening up another round of requests for proposal to sell land.
In 2022 American Southwest Credit Union purchased land in Thatcher Commercial Park. Brown said the financial institution, which is headquartered in Sierra Vista, would like to have construction completed and the doors open by January 2025.
While Thatcher is moving cautiously with the Commercial Park, the Town is getting a new retailer in an established retail location.
Five Below posted opening soon signs in the space formerly occupied by Stage in the Safeway Shopping Plaza.
Five below describes itself as a retailer of “trend-right, high-quality products loved by tweens, teens and beyond,” with most items priced between $1 and $5.
The company currently has 1,300 stores in 42 states, and reported sales of nearly $2 billion in 2020.
Opening date of the Thatcher store has not yet been announced and calls to Five Below corporate offices were not immediately returned.
