<B>By LAUREY LUMMUS</B> <FONT SIZE=-1><I>Staff Reporter</I></FONT>
Tenant space at a new shopping center on Cheyenne Mountain Boulevard is goingquickly with consumer-magnet Target at the helm.
The center, under development by Colorado Structures, a Springs-based developmentfirm, is being built at an estimated cost of $760,000.
This cost reflects foundations and shells only, with merchants responsiblefor the individual tenant finishes, according to Rob Oldach, project managerfor the development.
The multi-tenant facility has attracted stalwart retailers such as the GeneralNutrition Center, Cost Cutters, and Radio Shack, and restaurants includingChesapeake Bagel, Chili’s, and Papa John’s Pizza.
The stores currently under development are all located north of the Targetoutlet.
Retailers have historically been attracted to sites where a large discountretailer, such as Target or Kmart, is located.
Video Update spokesman Bruce Carlson said the company, which is expandinginto Colorado Springs, is also looking at placing a store in the center.Video Update is the fourth largest company in the video rental industry.Having an outlet placed in the same center as a Target store or other discountretailer has proved fruitful for the video giant, according to Carlson.
The World Arena’s appearance should increase the boom that has started inthe area, according to development owner Ron Grothe. Other merchants thathave branches in the area are Ent Federal Credit Union and Cheyenne MountainBank. Lodging such as The Residence Inn and Fairfield Inn, both owned bythe Marriott Corp, are under construction.
A 17-acre parcel directly across from the World Arena was recently sold byGates Land Company to Galbraith Equities, a Denver firm, which has not yetdisclosed its plans for the land.
The remainder of the stores at the shopping center, covering more than 30,000square feet, are set to open by the end of the year.
Grothe said he believes the insurgence of building in this area of ColoradoSprings will bring a much needed element of customer and retail growth.
"This area has been overlooked for too long," said Grothe. "We are excitedabout the new growth and the availability it has already added to this sectionof the Springs."