PARKER – Denver-based developer Koelbel and Company has broken ground on an 11 acre parcel in the town of Parker called Pine Bluffs Plaza, located at the northeast corner of Parker Road and Hess Road. The site, which Koelbel has owned for the last 20 years, will be transformed into a mix of food, fitness and service providers in two phases and will be anchored by a free-standing emergency room and medical office.
“We purchased this land 20 years ago and have always envisioned a retail development, but we were waiting until there was enough residential growth to create the demand necessary to attract a good mix of tenants to the center, “said Koelbel and Company President, Walter A. ‘Buz’ Koelbel. “The area has seen tremendous growth over the last few years making this a perfect time to deliver in-demand commercial and medical services.” In addition to the recent growth that has been completed there are over 5,000 planned residential houses within a few miles of the project.
The first phase of the project is comprised of nine acres, and will be leased by David Hicks and Lampert brokerage. Phase one includes five buildings and has a total of 51,825 rentable square feet including a 10,800-square-foot free standing emergency room and a 13,50-square-foot building dedicated to medical office tenants. The core and shell of the four planned buildings will be complete in Q1 2019 and tenants are expected to be open for business by summer 2019. There will be three pads remaining for future development along Hess road that offer tremendous views of the mountains to the west.
“Koelbel and Company’s reputation as a first-class developer across the region is well known and we are pleased to be working with them here in Parker,” said Matt Carlson, Town of Parker Economic Development Department. “The Pine Bluffs commercial project will bring much needed amenities and service choices to the south end of Town that will serve not only Parker residents but also those in our southern trade area from Castle Rock to Franktown, Elizabeth and Kiowa.”
Koelbel and Company worked closely with the Town of Parker and the Pine Bluffs HOA to create an access point at the North end of the project that ensured ideal access for both nearby residents and patrons of the site.
Rendering courtesy of G3 Architecture