The $20-million Cheyanne Marketplace development will be located at the northeast corner of Martin Luther King Blvd. and Cheyenne. Goodwill will have an 8,000-sf retail store in front of an industrial building that will include 52,000 sf of warehouse/distribution space and 14,000 sf of office. Additionally, the project will include three retail pads and 85,000 sf of retail shop space, says Penny Mendlovic, the NAI Horizon broker who brought Goodwill to the project, earning her the leasing assignment for the entire project.

The developer is Cheyanne Marketplace LLC, which is comprised of a local family and other individual investors. The project was originally envisioned as a pure retail play, says Mendlovic, but the plans were changed to accomodate Goodwill.

The project should be out of the ground by November and completed in the fall of 2004, she says. As for tenants, Mendlovic says she plans to attract one or two more junior anchors that each will take between 10,000-sf and 20,000 sf, with the rest leased out to smaller retailers such as Quiznos, with which a deal should be done soon. Triple-net asking rates are $1.75- to $2.10 per sf per month for in-line space and $2.25 to $2.50 per sf per month for pad space.