Project: Spring Prairie Shopping Center Phases I and II

Spring Prairie Center Phases I and II

Location: Highway 93 and Reserve, Kalispell Montana

Goldberg Properties Entity: Kalispell Goldberg LLC

Style of Project: Power Center

Size: 240,000 sqft

Total Project Cost: Phase I and II $1,500,000.00

Land Area: 25 Acres

Substantial Completion: Phases I and II 2006

Description: Goldberg was led to the project by Lowes Home Improvement Centers after Lowes worked with Goldberg on a previous project in Fort Collins, Colorado. Lowes wanted a store at the location but found it difficult to work with the property owner, the State of Montana, and the State’s agency responsible for the property, the Department of Natural Resources (DNRC). The DNRC manages Montana’s school trust properties of which Spring Prairie was part of a School Trust Section. Goldberg was successful in negotiating a long-term land lease with the DNRC that has facilitated the project development. Development in Phases 1 and II included entitlement and construction of infrastructure.

The anchor tenants of Phases I and II (Lowes and Costco) lease their respective parcels. There are six out parcels in the original two phases, Starbucks, McDonald’s, Wells Fargo, Grease Monkey, and Famous Dave’s are under long-term land leases.

Spring Prairie Center