The owners of Paul’s ACE Hardware have purchased Palisades Center, located at the corner of Palisades Boulevard and LaMontana Drive.

Julie Buchkowski, president of the family-owned hardware business, and Steve Cadwallader, who sold the retail center, confirmed the sale last Friday, Sept. 29.

The sale includes a vacant, undeveloped lot that could become the home for an expanded Paul’s ACE Hardware store.

Moving the hardware store to the retail center is “definitely a possibility for us, but nothing is finalized on that front just yet,” said Buchkowski. “We saw that the center was for sale and there was space for us to build our own building.”

She and her sister, Tricia Dauwalder-Luna, granddaughters of the founder, Paul Dauwalder, now operate the business.

The late Paul Dauwalder opened the hardware business in town in 1973. In 1986, a store was built at the location of the current Recycled Home . The store remained there for 10 years before moving to Fountain Hills Plaza, more commonly referred to as the Basha’s shopping center.

“We have been in Fountain Hills for over 40 years and thought it was appropriate that we invest in some property in the town,” said Buchkowski.

As part of the transaction, Recycled Home will stay under a new long-term lease. Caldwallader’s wife, Cathy, has operated Recycled Home since 2015, and more recently opened a smaller consignment shop.

The other existing businesses, such as Brooklyn Bedding and HD Asian Restaurant, also will remain.

“We are thrilled with all the thriving businesses in the center and will work with them to continue serving Fountain Hills from this center for years to come,” said Buchkowski.

Last February, Cadwallader talked about bringing in an AutoZone auto parts store. Upon further research, Cadwallader said he was not confident in the long-term viability of the business.

“This is a really exciting new direction for the plaza and for ACE Hardware, and it will make Palisades Center one of the best and busiest properties in all of Fountain Hills,” Cadwallader said.

Paul’s ACE Hardware owns seven other stores; three in Scottsdale, two in Tempe, Gilbert and Payson.