GREELEY — Evergreen Devco Inc., a Denver-based retail and multifamily development company, has purchased the former Steak ‘n Shake restaurant at 4214 Centerplace Drive in Greeley.
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The property, located along U.S. Highway 34 near 47th Avenue, has been vacant since the restaurant closed at the end of January.
Evergreen purchased 0.993 acres from Johnson Investments Inc., which owned the 3,800-square-foot building. Weld County property records reveal that Evergreen-47th & Highway 34 LLC paid $1.45 million for the property on May 27.
Evergreen will redevelop the former restaurant into a building leased by Aspen Dental, according to a press release announcing the transaction. The dental network operates 900 offices in 43 states, offering a full suite of oral health care services.
“Evergreen is excited about this redevelopment project,” Erika Shorter, vice president of Colorado acquisitions at Evergreen Devco, said in a prepared statement. “Plans for the property include demolition of the interior, improvements of the exterior façade and minor sitework.”
Construction is scheduled to begin in July 2021.
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