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Rehabbed bank in 2016
Sherwin-Williams forecasts a long term future in former Arizona Bank building by Ralph Haver & Associates
By Craig Christenson and Alison King
This parcel of land at 42nd Street and Thomas Road has been in the Christenson family since 1941. It was part of a 5 acre plot and the site of my grandparents' house where my mother lived after attending Phoenix Union High School. For several years my grandfather operated an egg business on the property out of his garage. In 1960, my grandfather entered into a 60 year ground lease with Arizona Bank - which led to the construction of the Ralph Haver & Associates designed bank building. While high in style the bank was relatively short-lived. In 1986 the Arizona Bank was acquired by Security Pacific Corporation and subsequently by Bank of America and the local bank brand virtually disappeared. With a branch location already in existence at the corner of 44th and Thomas Rd., BofA made the decision to close the Arizona Bank branch location at 42nd Street and sublet the property to a Chinese restaurant. Drivers along Thomas Road might remember the restaurant's pink brick walls and teal concrete frieze.
Chinese Restaurant all boarded up before renovation in 2013
The Chinese restaurant operated for about 10 years before going out of business in 2005. With the Chinese restaurant closed, the building sat vacant for several years and aged considerably as a result of vandalism common to the Phoenix Metropolitan Area during the economic downturn.
In 2012, we made the decision to redevelop the property and bring it back to life. We entertained several offers in response to the simple “For Lease” sign we posted out front, and captured the attention of Modern Phoenix as a midcentury building that might be at risk. Most real estate brokers and developers that approached us were looking to bring a bulldozer and scrape the lot. We held firm to our conviction however, that the building should be preserved and adapted to its new use.
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The Christenson family after Fuzzy's renovation in 2014
In 2013, we entered into a lease agreement with Fuzzy's Taco Shop. Their contractors helped us preserve the architecture and refurbish the property. Unfortunately, this arrangement was short-lived because Fuzzy's did not last. Several property improvements were made at this time and the prime location helped attract a longer-term tenant. Enter Sherwin-Williams.
"The search for the right location and building in this area took several years. When I first identified this building (in 2013), it certainly had a 'vacant and used' appearance. However, the attraction was very obvious - a free-standing building with great visibility from East Thomas Road, easy access and a large parking lot," said Ray Starbuck, Sherwin-Williams Director of Real Estate. "The building’s appearance contrasted with the surrounding buildings and offered not only the basic elements needed for a Sherwin-Williams store, but also a unique opportunity to become a true icon and to again be a part of the community I knew it had once been."
Unfortunately Fuzzy's beat them to the lease opportunity in 2013 and Sherwin Williams effort to develop a store in the Arcadia neighborhood had to wait.
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The Sherwin-Williams store team
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