HomeMy WebLinkAboutMULBERRY LEMAY CROSSINGS, LOT ONE, FILING ONE - FINAL PUD - 36-96D - MEDIA - (25)Mulbe -
S_Lemay propey cost
upercenter
BY ROBERT BAUN
developer $3.5M
The C010radoan % _ 30 V6
Construction of the new Wal_
Mart Supercenter will be a big
investment.
The building permit on the
2 , i square -foot store shows
an estimated construction cost
of $6.2 million
But first, developer Mark
Goldberg paid a hefty price for
el d underneath
The 42-acre site at the north- 1
east corner of Mulberry Street
and Lemay Avenue, a foriner
cornfield, was $3,466,09L purchased for
The deal, which closed in late
June, concluded a five -year -old
contract between Goldberg the owners, and
"In the beginning, we di feel it would be that dn't
1
long a wait J at all said ROM Frank, a broker i
With The Group Inc, who rep- f resented the sellers in the deal
Goldberg's project, which 1
calls for nearly 400,000 square
feet of retail space, was the sub-
ject of public controversy dur- I
ci, the late 1990s, including a
sho tywide vote. Opponents of the 1
wo�dlcreate havoc ce terargued it I
in the northeast with traffic
city, and would quarter of the
im have a negative
pact on downtown retailers.
The project was v
approval b given final
y city officials in
March, and Goldberg finalized
his deal with Wal-Mart in june.
In the miidt, the contract signed brought 2 pe
square foot. If the same deal was
negotialand ted today, Frank said, ;
would probabl y be
the r worth square
$350-$4 per
foot. t
RP--