Press release provided by Oppidan Investment Company
National property development firm Oppidan Investment Company recently announced it will begin construction on a new multi-tenant retail development in Cambridge in May.
The 32,500-square foot, two-building development will be located at the northeast corner of Highway 65 and Highway 95, the former home of Greenberg Motors.
Already, Oppidan has secured two tenants for the development, including Goodwill and Dollar Tree. The two stores, 17,500- and 9,350-square feet respectively, will occupy the larger of the two buildings. Oppidan is currently seeking up to four additional tenants to occupy the smaller building.
According to Drew Johnson, a developer with Oppidan, the site was ripe for redevelopment. Greenberg Motors had been trying to sell their site for years, and the city was interested in investing in its redevelopment, approving tax increment financing to upgrade surrounding streets, future city road right-of-way dedication, area-wide storm water treatment, and soil clean up.
“Cambridge is a growing rural community that will benefit greatly from the additional retailers we are bringing into the market, and the new infrastructure will likely spur further development in the immediate area,” Johnson said. “It’s always rewarding to meet a community need, and I think this development is a home run for residents in and around Cambridge.”
Construction on the Cambridge retail development is expected to begin on May 1 and conclude on October 1.
About Oppidan Investment Company
Since 1991, Oppidan Investment Company has been providing development, construction and project management, asset management, and brokerage services to the retail, industrial, commercial and residential markets. The firm has successfully developed more than 400 projects spanning a total of 12 million-square feet in 29 states with a total value of more than $2.7 billion. Oppidan’s client list includes Fresh Thyme Farmer’s Market, GE Oil & Gas, Goodwill, Kowalski’s, Orchard Supply Hardware, Shopko, Starbucks, SuperValu, Target, and more. To learn more about Oppidan, visit www.oppidan.com.