Developers to break ground any day

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Construction is expected to begin late this week or early next week on Central Park South, the completion of the shopping center that houses Wal-Mart and City Market grocery store.

Jim C. Hansen of Old Town Realty in Steamboat said the general contractor for the 29,000-square-foot building is an Ohio firm, Gioffre Companies Inc.

Developers THF Steamboat Crossing LLC pulled a building permit valued at $2.13 million last week. Partners in THF are Michael Staenberg and Stan Kroenke.

The site is a piece of bare ground immediately to the south of the existing Wal-Mart parking lot. It will be visible from Mount Werner Road. The developers point out they have designed the new building to have visual appeal from all four sides, unlike many shopping center structures.

Hansen, who is the manager and leasing agent for the shopping center, said he has several tenants for the new building as well as some openings. He was not free to name the tenants, he said, at their insistence. In previous interviews, Hansen said he anticipates some existing tenants of Central Park Plaza will move into the new building to acquire more space, while other existing tenants will swap spaces.

THF owns the bulk of the shopping center, with the 40,000-square-foot Wal-Mart building a notable exception. The company acquired the building that houses City Market from a holding company for $2 million in September 2003.

THF also owns the undeveloped land in Steamboat Crossings, across U.S. Highway 40 from Central Park Plaza, and Staenberg has confirmed plans to develop up to 100,000 square feet of new commercial buildings there.

THF was incorporated in 1991 and as of 2003, reported owning and managing 70 properties totaling more than 15 million square feet of lease-able area in 20 states.

Staenberg and Kroenke are principals in THF. Kroenke is the owner of the Colorado Avalanche NHL hockey team, the Denver Nuggets NBA basketball team and the Pepsi Center in Denver, where they play their home games. He's also a co-owner -- with Denver Broncos owner Pat Bowlen and former Broncos quarterback John Elway -- of the Colorado Crush of the Arena Football League. Kroenke owns a home in Steamboat Springs.


-- To reach Tom Ross call 871-4205

or e-mail tross@steamboatpilot.com

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