Construction to begin for five tenants at Centerplace in Greeley

GREELEY — The developers of a 44-acre parcel of land at Centerplace North, a retail shopping center in Greeley, will have a groundbreaking ceremony later this month when construction begins for five tenants that will occupy a portion of the site.

The five tenants are a Holiday Inn Express and fast-food chains McAlister’s Deli, Arby’s, Fuzzy’s Taco Shop and Smashburger. The four-story, 103-room hotel, originally planned for 108 rooms, will sit on 2.6 acres, while the restaurants have taken pad sites ranging between a little less to a little more than one acre.

The property is owned by RADC/CADC Property XI LLC based in Leawood, Kan. The entity was formed by First Mariner Bank, which acquired the property after buying a portion of New Frontier Bank’s loans from the Federal Deposit Insurance Corp. after regulators closed New Frontier in 2009.

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First Mariner Bank is partnering with local Realtors and developers to help sell and build out the property, said Mark Bradley, managing partner of Realtec Commercial Real Estate Services in Greeley. Bradley and Scott Hagen of David, Hicks & Lampert Brokerage LLC are serving as brokers and consultants on the project. Bradley said two other retail pad sites are under contract.

The groundbreaking will take place from 2 to 3 p.m., Wednesday, Oct. 21, north of Dairy Queen at the northwest corner of 44th Avenue and Centerplace Drive.