Four-building commercial project coming to Republic

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A new commercial development will soon be taking shape in the center of Republic. Town Center Plaza, a four-building project, is located on Highway 60 between Harrison and Elm Streets.|ret||ret||tab|

"We've acquired the bulk of that block surrounding the Commerce Bank facility," said developer Bill Jester, president of Resource Development Inc. |ret||ret||tab|

The development was designed by Creative Ink Architects, and the Missouri Supermarket of Builders will manage construction, Jester said. |ret||ret||tab|

Galen and Marleen Pellham, Realtors with CJR Commercial Group, are marketing the new center. Jeff Casady, president of J & L Development Inc., is the builder and is a Republic resident. |ret||ret||tab|

"He felt that Republic has a void for a nice restaurant, retail space and office warehouse space. So this development is a combination of all three," Pellham said.|ret||ret||tab|

Fronting Highway 60 will be a 6,000-square-foot restaurant. Pellham said a restaurateur would have the option to buy the property and build a restaurant, or lease a restaurant built by the developers. |ret||ret||tab|

"We have a couple restaurants looking at both options," he said. |ret||ret||tab|

The first of two retail buildings to be completed measures 19,500 square feet and backs up to Harrison Street. Pellham said it would be suitable for a variety of businesses, such as a smaller restaurant, hair salon, insurance and/or real estate offices. |ret||ret||tab|

At the west end of the property is an office warehouse that will measure 20,500 square feet. It will be divided into 10 bays and will have five loading docks. |ret||ret||tab|

"There really seems to be a need for nice, clean office warehouse space in Republic," Pellham said. |ret||ret||tab|

The fourth building is the second retail center and will measure 24,000 square feet. It will be accessible from Elm Street on the south side of the development and will be divided into 16 1,500-square-foot bays. |ret||ret||tab|

Pellham said potential tenants have already expressed interest in the property. |ret||ret||tab|

"People know what's going on. They've seen the site being cleared. We're sending out fliers to possible retailers and restaurants," Pellham said.|ret||ret||tab|

Lease rates on the first retail building will probably range from $10 to $14 per square foot, Pellham said. Office warehouse space will lease for approximately $6 per square foot, and the second retail building will lease for approximately $12 per square foot, he said. |ret||ret||tab|

"We think because of the location, the quality of the project and the lease rates being what they are, this should lease quickly," Pellham said. |ret||ret||tab|

Jester said planning for the development began nine months ago. |ret||ret||tab|

The engineering and city planning process was completed less than three months ago, he added.|ret||ret||tab|

"We're well under way with our engineering and underground work. We anticipate that we'll erect the steel in January," Jester said.|ret||ret||tab|

Jester said office warehouse construction moves fast, so that phase of the development should be open in early spring. |ret||ret||tab|

Both the restaurant and the first retail center should be completed and leased by the middle of next year, Pellham said. When about 75 percent of the first retail center is leased, they will begin leasing the second retail center, he said. |ret||ret||tab|

Jester said the future widening of Highway 160 will allow more traffic flow around the center.|ret||ret||tab|

"The state has a plan to do a significant roadway widening through the center of Republic. So in the future, this center will be facing a five-lane road," Jester said.|ret||ret||tab|

Greg Chadwell, community development director with the Republic Chamber of Commerce, said the city has lacked the commercial space needed for businesses to locate in Republic.|ret||ret||tab|

"We're really happy to be able to provide the space. We've always had businesses wanting to come to Republic, but not necessarily the place for them to go. Our developers have recognized that," Chadwell said. |ret||ret||tab|

"We estimate that we will have about 12 commercial permits this year, and we believe that will jump to at least 20 next year," he added. |ret||ret||tab|

A 46,000-square-foot community center will be completed in July, and a renovation and addition to the community senior center should be completed by the end of the year, Chadwell said.|ret||ret||tab|

"We have a lot of exciting things going on in the community," Chadwell said.|ret||ret||tab|

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