Wingstop restaurant and Dutch Bros. Coffee will be moving into a new retail center across the street from TRAC in Pasco.
The first phase of the Burden Retail Center at Burden Boulevard and Convention Street in Pasco includes construction of six stores, totaling about 10,000 square feet, said developer Glen Engelhard.
Wingstop restaurant and Dutch Bros. Coffee already have leased spaces in the strip mall, he said. He's also trying to get another restaurant to come to the center, which is just opposite of TRAC.
There's virtually no commercial space available for lease near Road 68, he said. Commercial activity has picked up in the Tri-Cities in the past month and a half, he said, expressing optimism about finding tenants for the center. All retail businesses would be welcome, he said.
Ground-breaking is scheduled for Thursday. The first phase will be completed in about four months, Engelhard said.
The project is being developed in three phases because banks are not lending money, said Engelhard, who along with his partners is spending about $900,000 on construction of the first phase. He's talking with a national chain restaurant and a gas station about the site for the third phase of the project. The entire project will be spread over the four acres he bought for $1.2 million more than two years ago.
The Tri-Cities will continue to grow, he said. Developers see the area as a top spot for investment in multi-family homes, said Engelhard, who has developed 19 commercial properties in the Tri-Cities, and continues to own large chunks of land in Prosser and Richland.
He said he doesn't understand the reluctance of banks to support speculative real estate projects in the area. The Tri-Cities' economy remains strong, he said. "I don't see (real estate investment) as a risk."
The first phase of the Burden Retail Center at Burden Boulevard and Convention Street in Pasco includes construction of six stores, totaling about 10,000 square feet, said developer Glen Engelhard.
Wingstop restaurant and Dutch Bros. Coffee already have leased spaces in the strip mall, he said. He's also trying to get another restaurant to come to the center, which is just opposite of TRAC.
There's virtually no commercial space available for lease near Road 68, he said. Commercial activity has picked up in the Tri-Cities in the past month and a half, he said, expressing optimism about finding tenants for the center. All retail businesses would be welcome, he said.
Ground-breaking is scheduled for Thursday. The first phase will be completed in about four months, Engelhard said.
The project is being developed in three phases because banks are not lending money, said Engelhard, who along with his partners is spending about $900,000 on construction of the first phase. He's talking with a national chain restaurant and a gas station about the site for the third phase of the project. The entire project will be spread over the four acres he bought for $1.2 million more than two years ago.
The Tri-Cities will continue to grow, he said. Developers see the area as a top spot for investment in multi-family homes, said Engelhard, who has developed 19 commercial properties in the Tri-Cities, and continues to own large chunks of land in Prosser and Richland.
He said he doesn't understand the reluctance of banks to support speculative real estate projects in the area. The Tri-Cities' economy remains strong, he said. "I don't see (real estate investment) as a risk."
Read more: http://www.tri-cityherald.com/2010/09/24/1181637/strip-mall-to-be-built-near-trac.html#storylink=mirelated#ixzz18Ot7bh8M
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