Lakewood's Promenade at Denver West Retail Project is 80% complete
LAKEWOOD, CO—SEPTEMBER 17, 2012—
Construction of Promenade at Denver West, a retail development just west of Colorado Mills, is 80 percent complete, with some tenants expected to open for business in November, developer Bryan McFarland said.
The old Stevinson Chevrolet dealership was demolished in March, making way for the 11.75-acre project that includes 63,000 square feet of retail space.
"To think that we had our groundbreaking in April and here we are in September finishing buildings, that's pretty quick," said McFarland, a principal with Alberta Development Partners. "Our General Contractor, W.E. O'Neil is very good at compresing schedules."
Construction manager Mike Deeter said the "aggressive" construction schedule was intended to get as many businesses as possible up and running before the holidays.
"Any time you've got retail, you want them to open by Black Friday (the day after Thanksgiving), when everybody is going out and spending money," Deeter said. "That's why we pushed this one so hard."
One of the nine free-standing buildings on the property is 100 percent complete, and it is scheduled to be turned over to tenants Panera Bread and Garbanzo Mediterranean Grill by the end of the month, McFarland said.
Sixteen tenants, mostly restaurants, have signed leases, with four spaces still available.
"We have only 7,000 square feet of shop space available, which is pretty remarkable in this market," McFarland said.
Bonefish Grill, Carrabba's Italian Grill and Chick-fil-A will occupy stand-alone buildings.
Other tenants are Verizon Wireless, Mattress King, Batteries Plus, Five Guys Burgers & Fries, Pacific Dental, Pro Cuts, Kriser's natural pet food, Modmarket farm-fresh eatery, Cherry on Top frozen yogurt, Jimmy John's and Cafe Rio Mexican Grill.
The property, on the southeast corner of West Colfax Avenue and Indiana Street, will include a fountain at the corner and pedestrian and vehicle connections to Colorado Mills.
The site, which Alberta bought in late 2011, had been vacant for nearly a decade.
"This development is absolutely exciting," Lakewood planner Andrea Rand said. "For years, I've had calls, saying, 'Why can't you develop the corner?' This is an anchor corner, a pretty entrance into the city."
Total cost of the project is $19 million.
"We're not planning a grand-opening celebration until next year," McFarland said. "We'll have a soft opening this fall. You'll see some tenant announcement signs."
Alberta's other developments in the area include Northlands in Broomfield, Cornerstar and Southlands in Aurora, and the Streets at SouthGlenn in Centennial.
McFarland also managed the design and construction of Colorado Mills.
John Mossman: 303-954-1479, email@example.com