Evergreen Development has broken ground on a “retail hub” designed to bring new options to Colorado Springs’ southeast market.
The fully diversified real estate company recently completed the land purchase for the 23-acre retail development at the southeast corner of constitution Avenue and Marksheffel Road, where it broke ground on the project in late January.
King Soopers Marketplace, a 123,000-square-foot grocery store concept that is double the size of its typical store design, will anchor Claremont Ranch Marketplace.
“We’re looking forward to kicking off the development of Claremont Ranch Marketplace with the official groundbreaking of King Soopers,” said Tyler Carlson, principal and leader of Evergreen Development’s Denver retail office. “The Pikes Peak region continues to grow and this development will usher in new retail options for residents in southeast Colorado Springs.”
The Marksheffel corridor, Carlson continued, is one of the most actively growing areas in Colorado Springs and the retail site is surrounded by the neighborhoods of Claremont Ranch, Cimarron Hills, Hannah Ridge, Jessica Heights and Willshire, which at full build-out will include around 8,000 homes. Additionally, within three miles of the site there is an average household income of $75,000 – significantly above the metro average of $55,000, he added. The property also benefits from close proximity to the Colorado Springs Airport, Schriever Air Force Base and Peterson Air Force base as well as traffic counts on Marksheffel of 14,534 cars per day and 9,082 cars per day on Constitution.
Claremont Ranch Marketplace also will include 15,000 sf of multitenant space designed for multiple uses, including retail, service and dining. There also are four standalone retail pad sites that will front Marksheffel for additional retail and restaurant opportunities.
Pacific Dental, Patriot Liquors and Lux Nails recently signed leases to occupy space at the center, which has 4,109 sf available for lease. Also, Evergreen Development is in discussions with several regional and national restaurant chains for two of the pads as well as quick-service restaurants and other retailers.
“As construction starts on Claremont Ranch Marketplace, residents will be able to see our vision to create a retail hub for the burgeoning community in Colorado Springs,” added Laura Ortiz, a managing partner at Evergreen Development.
Bryan Slaughter of SullivanHayes is handling leasing of Claremont Ranch.
Lease rate are $32 per sf triple net for inline space, while $34 per sf for the last end cap facing King Soopers.
The center was planned and engineered by Galloway. Farnsworth Group Inc., a national full-service engineering, architecture and survey firm, provided the architectural design for the multitenant building. Bryan Construction will spearhead the construction of the sitework and the multitenant shops building.
Work is expected to be complete in early 2017.
