Colorado-Real-Estate-Journal_476911

Page 20 - August 20-September 2, 2025 www.crej.com Retail by Avalon Jacka ERIE – A Phoenix-based developer began work on a neighborhood retail commer- cial development in Larimer County. Evergreen Devco Inc. broke ground on Erie Highlands, a 12.71-acre development locat- ed on the southwest corner of County Road 5 and Erie Park- way. The developer acquired the site in January and began installing horizontal improve- ments in July. “We’re excited to officially begin construction on Erie Highlands, marking an impor- tant milestone in bringing this essential community resource to Erie,” said Evergreen Devco principal Erika Shorter. “This development will become a vital community gathering place, providing residents and students with the dining and retail options they need as Erie continues its remarkable growth trajectory.” The current phase of develop- ment is focused on horizontal infrastructure, including mass grading, utility infrastructure, a shared private drive con- necting County Road 5 and Glacier Drive, and some off- site improvements, such as a southbound deceleration lane along County Road 5 entering the project and a traffic sig- nal at the Erie Parkway-Glacier Drive intersection, said Ever- green Devco CEO and Man- aging Principal Tyler Carlson. The firm plans to finish the infrastructure improvements by the end of the year, then end-users will construct their site improvements for 2026 and 2027 openings, Carlson said. Core Engineering is serving as civil engineer for the project. Golden Triangle Construction is performing the on-site and off-site horizontal infrastruc- ture development. Erie Highlands will pro- vide dining options and retail services to meet the growing demand in one of the state’s fastest-growing municipalities. Erie’s population has nearly doubled in the past decade, creating demand for additional retail and dining infrastructure, according to a statement from Evergreen Devco. The devel- opment will serve the adjacent Erie High School community and the expanding residential areas around the site. “Due to the rapid housing growth in east Erie, demand from the adjacent school and athletic facilities, lack of retail and restaurant amenities along Erie Parkway, and the project’s central location in the trade area, this project is perfectly sit- uated to serve the needs of the east Erie community,” Carlson said. “We are excited to bring a first-class lineup of daily needs and restaurant tenants to east Erie.” Legend Partners is market- ing Erie Highlands for lease. Erie’s growth has added to the success of Nine Mile Corner, a mixed-use develop- ment at Arapahoe Road and U.S. Highway 287 in southwest Erie. Developed in partnership between Evergreen Devco, the town of Erie and Erie Urban Renewal Authority, the 48-acre project has become a corner- stone of the town’s commercial landscape, according to Ever- green Devco. Erie Highlands underscores Evergreen Devco’s ongoing commitment to development in high-growth markets in the state, adding to the firm’s record of successful retail and mixed-use projects in the region. The firm is also cur- rently working with the town of Erie through a public-pri- vate partnership to develop Erie Town Center at Erie Park- way and County Line Road. Additional recent projects in the Colorado market include Silverstone Marketplace in Frederick, The Lookout dining and entertainment district in Wheat Ridge, the 250-unit Out- look Table Mesa multifamily development in Wheat Ridge, and the Superblock industrial development in Aurora. The company will continue to exe- cute “thoughtful and strategic growth up and down the Front Range,” Carlson said. Evergreen Devco currently has 67 retail projects in devel- opment and has delivered more than 19.82 million square feet of retail projects, accord- ing to its website. Its portfolio includes properties in Colo- rado, Arizona, California and Utah in the retail, multifam- ily and industrial asset classes. The firm has additional offices in Denver; El Segundo, Califor- nia; and Salt Lake City. Other News n PARKER – A 1.41-acre land parcel off the intersection of South Chambers Road and Newlin Gulch Boulevard trad- ed hands for $625,000 in July. RWD Equities LLC acquired the property at 11733 New- lin Gulch Blvd. from 2222975 Alberta Ltd. Nick Beach and Mitch Trevey of Trevey Com- mercial Real Estate represent- ed the seller, and the buyer was represented by Cheryl Staf- ford of Corporate Real Estate Advisors. The buyer plans to develop a multitenant retail building on the site. The parcel is proxi- mate to hundreds of residential units and EchoPark Stadium. n WESTMINSTER – A sin- gle-tenant net-leased drive- thru property sold for $2.08 million in August. Surreal Holdings LLC acquired the freestanding building at 1835 W. 120th Ave. The seller was listed as West MKC Corp. on Adams County public records. The 2,162-square-foot building is situated on a 0.92-acre lot. David Wirgler of North- marq represented the seller, and Elizabeth Morgan, Cody Stambaugh and Kyle Moyer of Pinnacle Real Estate Advi- sors LLC represented the buyer. “We were pleased to assist our client in acquiring his first commercial investment prop- erty,” Morgan said. “With a long-term lease, minimal man- agement responsibilities, and a strong credit tenant, this asset was an ideal complement to his existing residential portfolio. The recent closure of two near- by non-drive-thru Starbucks locations further strengthens the positioning and long-term potential of this drive-thru site. The seller and his team were highly cooperative through- out the transaction, ensuring a smooth and seamless transi- tion for both the buyer and the tenant.” n PARKER – A retail building off South Twenty Mile Road is fully leased following a recent lease deal. The Lifting Studio signed a long-term lease for 2,000 sf at Lincoln Meadows Retail III, located at 18260 E. Lincoln Ave., Unit 105. The lease will commence in November. Brady Efting of Compass Real Estate represented the tenant. Tommy Daher and David Marulli of Trevey Com- mercial Real Estate represent- ed the landlord, DSSM Hold- ings LLC. The Lifting Studio is a hus- band-and-wife-owned gym focused on personal training, nutrition and community. The locally based gym aims to help adults build strength, increase energy and move pain-free with coaching and customized programs, a statement from the company said. s Evergreen Devco begins site work on 13-acre Erie Highlands Evergreen Devco Inc. began on-site and off-site infrastructure work for the 12.71-acre Erie Highlands, the firm’s newest retail project on the Front Range, in July. and stores. “With our Den- ver store, we’re thrilled to introduce Wayfair to new customers – from our unbeat- able selection to personalized design service and the flex- ibility to shop wherever they want.” Life Time will open in a 103,000-sf, full-service luxury athletic country club in 2027 in the former JCPenney space. Legend Partners’ Mike Ken- dall and Cameron Flint rep- resented Life Time in its lease. The new location will include resortlike amenities, multiple pickleball courts and an out- door beach club. The new location will be Life Time’s 10th club in Colorado, follow- ing its Castle Pines location opening in 2026. “Life Time fits perfectly into the vision Stockdale has for The Shops at Northfield, and we’re thrilled for our athletic country club experience to serve as an anchor for this revi- talized shopping destination,” said Parham Javaheri, Life Time president of club opera- tions and chief of property development. “This new des- tination will complement our eight (current) clubs across the Denver market and bring our healthy living, healthy aging and healthy entertainment offerings to a new community. We’re eager for this project to move forward.” The grocer tenant is expect- ed to further diversify the center’s everyday retail offer- ings and fill a much-needed niche on Central Park’s north side, a statement from Stock- dale said. While the Stock- dale team declined to confirm the name of the grocer tenant, previous reporting suggests the space could be occupied by Trader Joe’s. “As a Central Park resident of nine years, it’s really exciting to get these big-box anchors repositioned so quickly upon vacating the park project,” said Don Clouthier , Stockdale general manager. “We’ve got a pretty vocal community, and they’re all looking for about the same thing: a safe, clean, friendly place to spend time and hang out. Our success is simply meeting them there. For me, on-site, working here every day and living in the community, it’s a tremendous- ly energizing project with big- name anchors and a lot of positive activity.” Denver City Council approved the rezoning of a site on the northeast quadrant of the center in July, allowing for up to 1,500 multifamily units. Stockdale plans to move forward with the housing ini- tiative on the property in the next couple years but did not have additional details to dis- close at this time. The Shops at Northfield is Colorado’s most-visited open- air retail center with more than 8.5 million annual visi- tors. The center is home to the most-visited movie the- ater, Harkins Theatres 18, and Bass Pro Shops locations in the state, and the Northfield H&M and Ulta Beauty stores rank as the highest-trafficked of the companies’ locations in the state. The Northfield SuperTarget is the third-most- visited location in the state. The Shops at Northfield’s curated tenant mix continues to drive strong gains in traffic and sales with a 30% increase in total sales over the past three years, according to a statement from Stockdale. Stockdale Capital Partners focuses on repositioning and redeveloping urban real estate to “breathe new life into life- style centers, office campuses and mixed-use districts,” a statement from the firm said. Its portfolio includes assets across multiple commercial property types in Colorado, Texas, California, Arizona, Utah and Oregon. The firm also owns The Source Hotel in Denver’s River North Art District. s Northfield Continued from Page 18