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<br /> <br />Village Square Shopping Center <br /> <br />Address: <br /> <br />South Boulder Road and Centennial Drive <br /> <br />Parcel Size: <br /> <br />12.25 acres (Includes Tract III, wruch.is triangular parcel to north) <br /> <br />Owners: <br /> <br />Tim Brasel, Safeway, Dwight Sullivan (owner of the Walgreen's <br />space) <br /> <br />Current Zoning: <br /> <br />CC-Commercial Community <br /> <br />Building Sizes: <br /> <br />o Safeway 53,934 s.f <br />e Walgreen 13,883 s.f. <br />e In line Retail 17,006 s.f. <br />e First Bank and small tenant building 9,990 s.f. <br /> <br />Property Attributes: <br /> <br />G Large site <br />o Grocery anchor <br />o Several new tenants within the past 6 months <br />G Abundant parking for retail <br />a Zoning allows flexibility in allowed uses <br />\!I Favorable traffic count along South Boulder Road-l 2,589 vehicles/day <br />e Stable and growing residential area with high incomes <br /> <br />Property Challenges: <br /> <br />e Multiple ownerships <br />\!I Old buildings, tired appearance <br />III Mid block retail site (which limits interest by retail tenants) <br />\11 Surrounding residential is high income, but low density, so total purchasing <br />power is not attractive to many national retailers <br />e Current layout makes tenanting difficult to appeal to a higher-end tenant <br /> <br />2 <br />