Medical industry, North Avenue bring commercial activity to valley

Commercial

The two-million dollar renovation of this building, the Vault Real Estate Community,  2755 North Ave., should be finished by September, according to co-owner Matt Telinde. The anchor tenant will be Real Property Management NOW, owned by Telinde and Scott Schindelar. There is still availability in the building for other tenants who are interested in a co-working space for professionals who work in the real estate/lending community.



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The two-million dollar renovation of this building, the Vault Real Estate Community,  2755 North Ave., should be finished by September, according to co-owner Matt Telinde. The anchor tenant will be Real Property Management NOW, owned by Telinde and Scott Schindelar. There is still availability in the building for other tenants who are interested in a co-working space for professionals who work in the real estate/lending community.

O’Reilly’s Auto Parts currently has two new stores under construction in Grand Junction. This one is on North Avenue near 28 1/2 Road, and is nearing completion. Construction has just begun on the second location, which is across from Mesa Mall on Patterson.



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O’Reilly’s Auto Parts currently has two new stores under construction in Grand Junction. This one is on North Avenue near 28 1/2 Road, and is nearing completion. Construction has just begun on the second location, which is across from Mesa Mall on Patterson.

The building at 750 Main Street has undergone extensive renovations since new owners purchased it. It’s now the only building in town with gigabit Internet and is home to Factory, a co-working space for technical entrepreneurs who need the high speed Internet and who benefit from the camaraderie of shared space and conversations with other entrepreneurs.



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The building at 750 Main Street has undergone extensive renovations since new owners purchased it. It’s now the only building in town with gigabit Internet and is home to Factory, a co-working space for technical entrepreneurs who need the high speed Internet and who benefit from the camaraderie of shared space and conversations with other entrepreneurs.

Mind Springs Health has already begun moving dirt in the construction of its new 48-bed hospital wing. The hospital will demolish one of its existing 16-bed wings, but another one will remain in place, giving the facility a total of 64 beds when the new hospital is complete.



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Mind Springs Health has already begun moving dirt in the construction of its new 48-bed hospital wing. The hospital will demolish one of its existing 16-bed wings, but another one will remain in place, giving the facility a total of 64 beds when the new hospital is complete.

Commercial real estate activity is humming right along, with new construction, new retailers coming to town, disappearing office space and busy commercial brokers constantly in negotiations for leases and sales.
Perhaps the largest commercial project on the horizon is the $34 million new psychiatric hospital at Mind Springs Health and West Springs Hospital.
“We’re really excited to be at this juncture,” said Mind Springs CEO Sharon Raggio. “We don’t have enough psychiatric beds on the Western Slope.”
The new hospital will increase the number of beds at West Springs from 32 to 64. In the construction process, one of the hospital’s current 16-bed buildings will be demolished to make way for a new, 48-bed facility, with the option of adding on another 16-bed wing in the future.
“On any given day, we are full,” Raggio said. “Most hospitals expand when 75 percent of the beds are used and we are at 90 percent. It’s time and this is the best design for expansion.”
FCI is the general contractor for the project and has pledged to hire as many local subcontractors as possible. The new hospital will have an economic impact to the community during construction, and once it is complete, with 25 new staff members. According to a recent economic impact study done by the Grand Junction Economic Partnership, the new hospital will generate the full-time equivalent of more than 100 jobs in its first year of operation, growing to more than 125 by its fifth year.
More importantly, the hospital will allow Mind Springs to continue to reach and help stabilize residents across the Western Slope who can benefit from treatment.
St. Mary’s Hospital and Medical Center is currently in the middle of an electrical upgrade for the entire campus that has served as a mini economic development tool, with an estimated cost of more than $17 million, using 20 local subcontractors on the job. FCI has been the general contractor for the project, which is scheduled to be complete in January, 2018. 
The hospital has been added onto and renovated multiple times since it was first built, and the electrical update brings the entire campus up-to-date. 
“Some of our switching gear dates back to 1949,” said Dan Prinster, vice-president of planning and business development at the hospital. In addition to the switch gears which switch power to emergency backup generators in the event of a Xcel power failure, the hospital also has switches that protect equipment, sub panels and other electrical equipment from various construction remodels and additions over the years since the hospital was originally built. “It’s all in good shape, but we realized we needed to bring it into the 21st Century on all electrical equipment.”
The upgrade will allow the hospital to expand in the future and support new medical equipment that may be necessary for expanded growth and service.
Elsewhere across the Grand Valley, commercial projects and properties are moving, albeit a little slower than anticipated. Designs are being finalized for Patterson Place, a 3.4-acre retail area at 2562 Patterson that has been in the works for several years. There are a few vacant homes that will have to be demolished before construction can start, and the developers are moving forward to make that happen.
Madison Square, another small retail development on 24 Road, also has all necessary approvals to move forward. Developers are hoping to break ground soon, but are still negotiating with tenants.
Ditto for the refurbished commercial building, Park Place Plaza, at 2350 G Road.
“There’s a lot happening, all at the same time,” said Ray Rickard, who is working on leases for both Madison Square and Park Place. Rickard has also written recent contracts or is negotiating on commercial properties in Fruita, on Horizon Drive, downtown and on North Avenue, as well as several industrial sites.
According to Rickard, some commercial buyers are coming from the Front Range, where soaring prices have causes them to reconsider buying additional Front Range properties.
“There are investors who really like Grand Junction,” he said. “They’re more comfortable investing in Grand Junction. It doesn’t seem inflated; here, it’s affordable. These guys are coming in and they’ll improve the properties. It’s all good.”
He’s not the only commercial broker who is seeing interest and activity in commercial properties. Brian Bray is continuing to negotiate leases at his Monument Road building in the Redlands, as well as a refurbished medical building on Wellington. Another exciting property, 750 Main Street, is almost fully leased.
“There are four offices left,” Bray said about the building. “We have gigabit Internet. No one else in town has it. It’s a huge draw for technology.”
Available technology in the building is what drove Factory, a co-working group, to the site.
“We have 20 members working out there,” said Brian Watson, one of the founders of Factory. “We also have a lot of events there.”
One of the huge benefits for Factory members is the affordability of the space. Memberships start at just $149 per month, which includes the gigabit Internet, as well as access to conference rooms and networking with other tenants. Membership is month-to-month, which allows small entrepreneurs an affordable space to create and grow their business.





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