The residential real estate market has been on fire for the last several years, and this year, in spite of the challenging environment caused by COVID-19, the local commercial real estate market is seeing quite a bit of activity, too. Properties that have been for sale for years are selling. Old buildings are getting rehabbed and fit for re-use, and some investors and business owners are purchasing raw land for new construction.
Mark Swain, owner of Networks Unlimited, an IT service company that’s been operating in the Grand Valley for 20 years, recently purchased an existing building at 515 S. 7th that has been home to several different businesses, including a lumber yard, a Halloween store and a flea market.
“I like the idea of taking something old and renewing it,” Swain said. “We’re doing an extensive remodel; we want to make it a modern, industrial space.”
Networks Unlimited currently works at a building at 610 Rood, which has already been sold to an investor. The Rood building has 7,000 square feet, and the new building will have 18,000 square feet. According to Swain, Networks Unlimited plans to utilize 12,000 square feet and lease the remaining space. Dare-Case Contracting Services is doing the renovation work on the new building, and Swain hopes to have his company working out of the new space by spring, 2021.
Across the street, at 630 S. 7th, the 48,000-plus square foot building that is owned and currently being used by Enstrom Candies as a warehouse, but was home to Star-Tek a decade ago, is on the market again. An out-of-area investor, S2E, was considering buying the property for multi-family residential construction, but that deal has fallen apart. The building has more than 48,000 square feet, sits in the opportunity zone, and the property includes more than five acres.
“The Seventh Street corridor is the next housing/retail corridor,” said Doug Simons, owner of Enstrom Candies. “I’d always anticipated building a new plant there (at 630 S. 7th), but I didn’t think it was right to put a big manufacturing plant down there.”
The company has outgrown its current space at 701 Colorado, and the nearby warehouse a couple blocks south of its manufacturing facilities wasn’t ideal, so the company searched for a more suitable location. It found it in a 38-acre parcel of vacant land on 28 Road.
The entire parcel is too large for the company, so as it makes plans for a new manufacturing plant, it will also make plans to sell or develop some of the excess land. Simons, who has been part of the Enstroms Candy business for 41 years, is already thinking about what a new facility will look like.
“I want to build a plant that’s operating out of the sunny side in the winter,” he said. At both of the existing locations, the business operates on the north side of the buildings, with the parking lot and building entrance on the north side of its retail and manufacturing on Colorado, and the loading dock on the north side at 630 S. 7th. “Most of our business is this time of year and we’re always operating in ice and snow. I want to take advantage of the sunny side, and have the building and dock areas face the sunny side.”
Enstrom plans to continue to have a retail presence downtown, but is looking forward to moving manufacturing, warehousing and shipping and receiving, which all involve large trucks rumbling down Seventh Street, to the spot on 28 Road, which is just north of I-70B and more suitable for truck traffic.
There’s a new vision planned for the building at 535 N. 7th, which was formerly the Christian Science Church and sits in the Seventh Street Historic District. Arlo DiCristina, owner of Elysium Studios, an art gallery/tattoo studio at 861 Grand Ave., purchased the historic building a year ago, and has been remodeling and developing plans to retain the architecture and style of the building, while transforming it into an amazing space for art.
“We want to move into a more versatile location,” DiCristina said. “We want to host art or charity events, education events. We have such amazing artists coming through this town. We want to have a platform for teaching. We’re also going to have some shared art space.”
Elysium Studios regularly brings in guest artists and attracts clientele from out of town who travel to Grand Junction for their tattoos because of the caliber of artists working at Elysium. Artists include DiCristina, as well as his wife, Ryan Ashley DiCristina, who won the television show Ink Masters.
On Patterson, the medical office building currently under construction at Rivertown Center, 2570 Patterson, is on track to deliver the shell of the building to SCL Health by the end of the year. The building will be used as a primary care facility, and is expected to be ready for patients by mid-2021. The developer at Rivertown Center is hoping to sign a lease for a coffee shop within the next few weeks, and plans include outdoor patio seating. There’s an adjacent unit that still available with 1,760 square feet, as well as a 2,500 square foot building that could be a restaurant or a small pharmacy.
Construction projects are ongoing at Mesa Mall, where at least two national retailers are continuing to pursue plans to open Grand Valley locations.
“Mesa Mall is very excited to welcome both Dillard’s and HomeGoods in 2021,” said Paul Petersen, general manager. “We’re looking forward to offering our community and the surrounding areas with a quality shopping experience with both of these retailers.”
COVID-19 has slowed progress at a few projects, but hasn’t stopped the construction of new facilities and the redevelopment of old spaces in 2020. Expect more in 2021.
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November 02, 2020 at 06:11AM
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Commercial activity remains constant - The Grand Junction Daily Sentinel
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