Prescott Valley Horseracing Track Sells for $3.22 Million
12 1 2018
CBRE announced the sale of Yavapai Downs, a 124-acre horse racetrack property, located 11 miles from downtown Prescott on Highway 89A. Chris Ackel and John Amory Jr. with CBRE Phoenix represented the buyer, Phoenix-based JACOR Partners. The property was sold for $3.22 million out of U.S. Bankruptcy Court in a deal that closed Jan. 11, 2018.
The sale encompasses the Yavapai Downs racetrack, a 90,000-square-foot clubhouse/grandstand and 800 horse stalls. The new owners include Tom, Dave and Mike Auther as well as Joe Jackson of JACOR Partners along with Kentucky Downs president Corey Johnsen. Together, the group plans to renovate the site and restore live racing to the venue, which ceased operations in 2010. The track, which is located approximately 90 miles northwest of Phoenix, has traditionally been a destination for horseracing fans from across the Valley.
“The Prescott area has a long, rich history of horseracing dating to the 1930s, and we’re excited to bring this tradition back to this part of Arizona,” said JACOR principal Tom Auther. “With Corey’s expertise in managing horseracing facilities, we will once again offer residents, visitors and horserace lovers alike a memorable summertime experience.”
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