The commercial real estate market moves at a slower pace than the residential market, as projects tend to have larger price tags, with more complicated lending, more complicated planning and design and longer construction phases. Some commercial projects involve multiple end users, as well.
There are several large commercial projects in various stages of construction in Grand Junction that are continuing to move forward, with some that will soon be ready for the more exciting, visible phases of construction with buildings emerging out of the ground.
At Riverfront at Las Colonias, Bonsai Design is finished with the planning and zoning of its 20,000 square foot building, which will be built just north of the also-new Butterfly Lake at Las Colonias, and hopes to break ground soon. The company designs and manufactures ziplines and other challenge course structures. It will use part of the building, and will have about 14,000 square feet of space available to other tenants.
"Some folks are interested, and we have letters of commitment," said Thaddeus Shrader with Bonsai, who added that Bonsai is still actively soliciting tenants for the building.
Bonsai hopes to build a zipline over the Colorado River at Las Colonias within a year after it moves into its new space.
Timberline Bank is planning a groundbreaking ceremony for its new headquarters, which will be across 24 Road from its current location, on May 14. Although the official ceremony is in a few days, construction has already started, with large earth-movers getting the ground ready for continued construction.
Timberline is planning a 36,000 square foot building, and it will occupy the entire space when the building is complete in May 2020. It will, however, have four pad sites on the eight-acre parcel of land that will be made available to buyers in the fall of 2019.
"They'll be one-acre lots," said Jeff Taets, president of Timberline Bank. "There's a need for that."
Timberline Bank is a local bank that was started in Grand Junction in 2004. It has a branch location in Aspen, and another in Montrose, and currently has 62 employees. The bank was the Small Business Association community bank lender of the year.
"We have many folks on staff that have been here since day one," Taets said. "We provide a high level of local service."
At Rivertown Center, a commercial center on Patterson Road between First St. and 25 1/2 Road, there is one last structure to be demolished and more drainage work to be completed prior to construction of any buildings.
Dale Beede with Caldwell Banker Prime Properties is working with prospective tenants and hopes to announce tenants and end users soon.
In Fruita, FHE, a manufacturer of oilfield service equipment, recently moved into a second building that's right next to its existing building, which it purchased in 2011. The new building has more than 68,000 square feet, and will allow the company to continue its explosive growth.
The FHE facility in Fruita is the headquarters for the company, which has a worldwide presence, with sales offices in three states and multiple countries. Engineers in Fruita developed the company's signature device, RigLock, which makes operations at the wellhead safer and faster. All design, engineering, assembly, testing and certification for the equipment happens in Fruita.
Large projects aren't the only ones moving forward. Foam and Folly Brewery is a couple of steps closer to construction. The proposed brewery will be at 330 S. Second St., which is about a block south of the soon-to-be complete new hotel on Colorado Ave. in downtown Grand Junction. In addition to remodeling the building, which once housed an automotive business, the owners will build an apartment on the second floor.
"We hope to get the construction going within 60 days," said Jeff Reed, who relocated with his wife from the Front Range after searching the four corners area for the right town and the right opportunity.
"We hadn't been here in a while, and when we came back to Grand Junction, we fell in love with the place again," Reed said.
Reed worked for Miller Coors for 17 years, and is excited about the opportunity to bring new and different styles of beer to the Grand Junction market.