The Neenan Company Begins Development of Commercial Condos in Timnath, CO
FORT COLLINS — The Neenan Company, a fully integrated design-build firm based in Colorado, is beginning development for The Plaza at Riverbend, a mixed-use retail center in Timnath, CO. Serving as the project’s developer and design-builder, The Neenan Company will sell the retail and office condos to each end user upon the project’s completion, a rare offering compared to traditional commercial leasing opportunities.
With the groundbreaking ceremony planned for late March, the project will total 39,000 square feet and include two freestanding single-story buildings with retail, office and restaurant space. The larger building will feature 23,000 square feet of commercial space with Studio 68 Fitness owning 9,307 square feet of space and planned for opening by the end of the year. The second facility is being developed entirely on spec and will feature 16,000 square feet of commercial space.
Currently experiencing a housing boom, the predominantly residential town is located directly southeast of Fort Collins. The project marks Timnath’s first neighborhood commercial development, with all existing commercial development comprised of national brands – including Costco and Walmart, among others – located along I-25. The project aims to meet the market’s high demand for commercial space designed for local businesses, providing entrepreneurs the opportunity to own and operate their commercial property in a central location less than one mile from I-25. The project is anticipated for completion in late 2018.
“The Town is excited about the Neenan project and is looking forward to a mutually successful relationship,” said Bryan Voronin, mayor pro tem for the Town of Timnath.
Tom Reznik of Realtec Commercial Real Estate is serving as the broker of record for the project. The development is located along Harmony Road at Signal Tree Drive, near Poudre Fire Authority Station 8, the future Timnath Town Hall that is soon breaking ground, and the planned Timnath Police building. The development’s design will be influenced by modern Colorado retail and Timnath’s rural heritage.
“The Plaza at Riverbend is a prime example of how The Neenan Company partners with its clients throughout the complexities of a project,” said Randy Myers, director of real estate at The Neenan Company. “By keeping our development, design and construction expertise and resources in-house, we help facilitate clients’ goals in an efficient and cost-effective manner.”