Cascade Marketplace Second Phase To Begin
According to David Riebel, president of Riebel Development, the overall concept for Cascade Marketplace is similar to a lifestyle center development with one exception: There are no residential units. The other lifestyle center elements — restaurants, retail shops, office space and a fitness center — will be there.
The fitness center is almost there now — it is currently located across the street.
Cascade Marketplace, a 14-plus acre site in the 6300 block of 28th Street, was previously occupied by a Leica Geosystems Laser Alignment plant, which closed in the spring of 2005.
The first phase of the new development already includes a Culver's restaurant, a Macatawa Bank branch and a Pizza Hut. A new Pizza Hut restaurant is expected to be built on the same site within two or three years, said Riebel.
Mike O'Dowd, owner of Endurance Fitness Center of Cascade on the opposite side of 28th Street, said his club should be moved by January into 30,000 square feet of the 42,000-square-foot building that will be erected this summer at the rear half of Cascade Marketplace. He has a 10-year lease, according to Riebel.
O'Dowd said his fitness club, which opened in 1999, has about 1,100 members. In January 2007, O'Dowd and four other fitness club operators joined forces to form Endurance Fitness Centers, which requires just one membership to use any of the Endurance gyms in West Michigan.
Both of the Cascade Marketplace buildings slated for completion this year will be two-story, as will a third building planned for construction next year. The other building under construction this summer near the center of the site is about 36,000 square feet.
Riebel said in late March that about 60 percent of the combined space in both phase 2 buildings was already spoken for. At the time, he was close to a deal with a well-known specialty food retail business, and added, "We have many more that are close."
Ultimately, the partners developing Cascade Marketplace will erect 120,000 square feet of commercial space over the next three years.
"Our goal is to start (phase 3) in the spring next year, and have that ready by the fall of 2009," said Riebel. Phase 3 will focus on a new two-story building of about 26,400 square feet, adjacent to the other major structure in the center of the property. Additional one-story space will be added on to the central two-story structure in 2010.
"We think that might be accelerated, because as soon as we get under construction, a lot of people will come on board," said Riebel.
He said Riebel Development also intends to move its office to Cascade Marketplace.
Riebel said the total investment in Cascade Marketplace will be between $12 million and $15 million when it is completed.
The general contactor is DVK Construction Inc. of Caledonia. Robert Van Kalker, president of DVK, is also a partner in the project with Riebel.
Architecture and design is by William Granzow of Concept Design Group in Grand Rapids.
The commercial space is being marketed by Doug Taatjes, partner and associate broker of commercial real estate firm NAI West Michigan.
Cascade Marketplace has two access points on 28th Street, and a third on Thornhills Drive, which borders its east side.
Cascade Township Planning Director Steve Peterson said Cascade Marketplace is probably the largest commercial development in the township. CQX