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[August 08, 2014]
New retail center planned for Colorado Springs' far north side [The Gazette (Colorado Springs, Colo.) :: ]
(Gazette (Colorado Springs, CO) Via Acquire Media NewsEdge) Aug. 09--Another major retail center is planned for Colorado Springs' far north side, this time on the southwest corner of InterQuest and Voyager parkways.
NORTHSIDE RETAIL CENTERS Colorado Springs' far north side, a high-growth area, has several major retail centers, including: - Chapel Hills Mall: 32-year-old regional shopping mall at Academy and Briargate boulevards that is home to anchors Sears and Macy's, and dozens of smaller stores and restaurants.
- Promenade Shops at Briargate: Smaller outdoor lifestyle center, southeast of Research and Briargate parkways, includes Apple, Eddie Bauer and Williams-Sonoma.
- InterQuest Marketplace: Regional shopping and entertainment complex northwest of InterQuest and Voyager parkways; apartments also are planned as part of the center, which includes a 14-screen Regal movie theater complex, restaurants and a Brunswick Zone XL entertainment center. A seven-story Drury Inn and Suites is under construction.
- Colorado Crossing: A dormant commercial and residential project, where stores and restaurants were planned; the project's developer filed for bankruptcy protection in 2010 and the property's sale is pending.
- Copper Ridge: A regional shopping center being developed southeast of Interstate 25 and North Gate Boulevard includes Bass Pro Shops and Bourbon Brothers Southern Kitchen.
Source: Gazette research Stores, sit-down and fast-food restaurants, a bank and possibly a hotel are envisioned on the nearly 23-acre site, which was purchased in June for $5.5 million by Chalon Properties Inc., made up of partners from Colorado Springs, California and New Mexico.
The property, just east of Interstate 25 and at the corner of two major roadways, has great visibility and access, said Mark Useman, a retail specialist with Colorado Springs Commercial who's marketing the property.
The property also is close to major employers such as Spectranetics Corp., Bal Seal Engineering Inc. and Lockheed Martin, and near thousands of rooftops in residential areas including Northgate and Flying Horse.
"We think that (site) obviously is one of the most significant future development pieces in Colorado Springs," Useman said.
Randy Dowis, a broker with NAI Highland Commercial Group who -- along with colleagues Bob Garner and Craig Anderson -- represented the property's seller, said the area lacks a grocery store, restaurants and other basic retailers.
"That whole area is grossly underserved," Dowis said.
The concept plan envisions restaurants, a bank and a convenience store along InterQuest and Voyager, while retail spaces and a hotel would be built on the property's interior, Useman said. The plan shows nearly 167,000 square feet of retail space, which doesn't include the hotel.
Chalon Properties plans to extend utilities, install sidewalks and make other infrastructure upgrades this fall, Useman said. In a best-case scenario, the first stores or restaurants would open in late 2015, he said.
The retail center doesn't yet have a name, and no retailers are ready to be announced, Useman said.
The site is across the street from InterQuest Marketplace, another retail center, and just west of the stalled Colorado Crossing mixed-use project.
But Useman said there's room for the new center; Colorado Crossing's developer went bankrupt and the project's future remains up in the air, while InterQuest Marketplace's uses will be different.
___ (c)2014 The Gazette (Colorado Springs, Colo.) Visit The Gazette (Colorado Springs, Colo.) at www.gazette.com Distributed by MCT Information Services
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