300,000-SF Development Planned for Greeley

GREELEY, CO-This small, northern Colorado city will get a 300,000-sf shopping center on 33 acres under a plan by two development companies. Amterre Property Group LLC of Boulder, CO, and Donaldson & Co. of Fort Collins, CO, plan the development along 59th Avenue.

The project is adjacent to a 130-acre site acquired by Donaldson for a master planned community it is developing that includes multifamily and single-family housing and open space trails, now in development. “The shopping center, which will be developed and managed by Amterre, will house large and small retail stores, offices and restaurants,” says Michael Kranzdorf, president of Amterre.

“Free-standing sites at the center have been pre-sold to Eckerd Drugs andAdvantage Bank,” he adds. “The first phase of the center is expected to open in the fall of 2004.”

“This [is an] ideal location in Greeley’s high growth western region, next to the new Weld County Public Library and80-acre Greeley Youth Sports Center, and within a mile of Aims CommunityCollege and the Northern Colorado Surgery Center,” says Norman Kranzdorf, chairman of Amterre.

Michael Donaldson, president of his namesake company, says its Fox Run housing development has gotten off to a good start. “We look forward to working with Amterre in the development of a complex that will attract consumers and companies from a broad geographic area,” he says.

Greeley is 50 miles north of Denver and is the county seat of Weld County, one of the fastest growing counties in Colorado and home to such well-known employers as Swift, Eastman Kodak, RR Donnelley & Sons, State Farm Insurance, University of Northern Colorado and Northern Colorado Medical Center.

Amterre is a commercial property development and management company recently founded by real estate veterans Michael and Norman Kranzdorf. The Kranzdorfs have extensive experience in real estate acquisition, development, redevelopment and management throughout the country.

Norman Kranzdorf was a co-founder, president and CEO of Kranzco Realty Trust, predecessor to Kramont Realty Trust, where he served as chairman 2003. He left the company to form the Amterre Property Group. Michael Kranzdorf was VP and director of research and Information Systems at Kranzco Realty Trust.