The Neenan Company Secures Plaza’s 94% Sales to Riverbend Development
Closures remain strong thanks to COVID-19 for Timnath commercial project The Neenan Company, a Fort Collins-based design-build and development company, announced that it has closed sales of 94% of the commercial space in its mixed-use commercial development project in Timnath, Colorado. Named The Plaza at Riverbend, the The Project represents Timnath’s first neighborhood commercial development, offering small business owned and operated retail, office and restaurant condos within the community.
The project’s sales activity remains strong despite the economic impacts of the COVID-19 pandemic, with Neenan ensuring the sale of 34% of the project’s commercial condo space since March 2020.
“The strength of the residential market in northern Colorado has only grown throughout COVID-19, based on the migration trends we are seeing,” said Randy Myers, director of real estate at The Neenan Company , the developer and designer-builder for the project. “The area’s real estate boom is creating a strong demand for local businesses, and we are proud to support these community establishments with the opportunity to own their commercial space, a unique solution in today’s real estate market.
The mixed-use shopping center consists of two independent one-story buildings with a total area of 39,000 square feet. Commercial condos have secured occupants in restaurants, health care and commercial services. The main occupants include:
Backyard BirdChicken and Donuts: The restaurant opened its physical location after successfully operating as a food truck concept.
The Group, one of northern Colorado’s leading real estate companies and a full-service real estate brokerage service since 1976, plans to open its Timnath office in January 2022.
Signal Tree Family Dental: The family dental practice opened in June, offers availability for Friday and Saturday appointments, and is networked with most major dental insurance companies.
Banner Health, one of the largest not-for-profit health care systems in the country, has opened its Timnath store specializing in family medicine.
UCHealth: The not-for-profit health system has opened a medical clinic that provides primary and care services for women.
The Little Gym: The franchise location provides a space for children to explore and learn social, physical and cognitive skills.
Family Advantage Chiropractic: The chiropractic office offers a variety of services for children and adults, focused on achieving a healthy, pain-free lifestyle.
Zzap Pediatrics & Spa 4650: The pediatric healthcare provider opened in 2019 and offers good and sick pediatric care, in addition to unlimited virtual emergency care and direct primary care subscriptions for comprehensive pediatric care without copay . The supplier also plans to add a full aesthetic and medical spa, with Zzap Wellness becoming Spa 4650 as it joins the project.
Domino’s Pizza: The world’s largest pizza company, based on global retail sales, has opened a franchise.
Riverbend Square is located at 4700 Signal Tree Drive. Timnath, located directly southeast of Fort Collins, is one of the fastest growing cities in northern Colorado. Tom Reznik of Realtec Commercial Real Estate Services is the main broker of record for the project.
Based on the success of the project, The Neenan Company is considering opportunities to continue its development of commercial condos in northern Colorado, focusing on the demand for medical-focused commercial condos.
“Developing commercial condos for sale is a distinct offering for this market, and our integrated model offers the unique ability to bring this type of product to market,” Myers said. “In today’s market, owning commercial space offers businesses greater affordability in many cases. We pride ourselves on supporting small businesses as the heart of our community by delivering developments that primarily benefit buyers. The demand that we have seen since our first development of commercial condos gives us great optimism about the opportunities to come.
The Neenan Company strengthens and builds communities across the country through an integrated and entrepreneurial approach to design, build and development projects. The Colorado-based company, founded in 1966, is a pioneer of the design-build model specializing in creating commercial, educational, healthcare and government facilities that generate economic vitality and make people feel good. , to learn and to lead. More information is available at www.neenan.com.
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