Palisade Park is catty corner from another giant project by veteran Denver developer Jordon Perlmutter that is called Larkridge.
Baum's 280-acre Palisade Park would have about 2.5 million sf if fully built out, while Perlmutter's 240-acre Larkridge in Thornton would have two million sf at its completion.
Retail broker Phil Hicks, principal of David Hicks Brokerage, tells GlobeSt.com he thinks some big box retailers could start to spring up in both projects as early as next year. "I love that part of town," Hicks tells GlobeSt.com. "If you look at a map of Denver, that whole north area is under-retailed. I think there's room for both."
Baum is teaming up with Cleveland-based Developers Diversified Realty, one of the nation's largest shopping center real estate investment trusts, for a portion of Palisade.
Ralph Conti, of Developers Diversified, tells GlobeSt.com that he thinks Palisades will be a winner. "We envision a hybrid type of shopping center," Conti tells GlobeSt.com. "Around the perimeter we will have the larger, destination power center," Conti tells GlobeSt.com. "Internally, we will have a Main Street concept."
Baum compares his plan to Alberta Development's massive Southlands project underway at E-470 and Smokey Hill Road in Aurora. Baum's development, much like Southlands, would also include apartments, condos and office space when market conditions improve.
Baum also envisions hotels eventually on his land.
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