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Project: 12th and Patterson

 

Location: South East Corner of 12th and Patterson, Grand Junction Colorado


Goldberg Properties Entity:


Style of Project: City Market (Kroger) grocery anchored neighborhood shopping center


Size: 85,000 sqft


Total Project Cost: $4,000,000.00


Land Area: 8.29 Acres


Substantial Completion: 1st Quarter 2009


Description: The property is owned by the Dillon Companies, which is a wholly owned subsidiary of Kroger. Kroger has asked Goldberg to undertake the entitlement of the project as they have had difficulty in reaching entitlement on three past occasions.

The site, at the Southeast corner of 12th & Patterson, is a very good in-fill property that has sat vacant for a number of years. Should we be able to entitle the site for the intended use the site and the development should be a very good long term project.

Goldberg acting as developer for the project will develop two pads and 15,900 sqft of in-line shadow retail space. Kroger will self develop their Grocery Store. Goldberg will purchase its land from Dillon once the project is fully entitled. The Project will have a typical Easement and Covenant agreement.

We are currently in the entitlement phase of the project and would expect to complete the entitlements in the fall of 2008. Ultimately we will develop and own the 15,900 square feet of in-line space.

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