THORNTON, CO-Veteran developer Jordon Perlmutter plans to build a $100-million regional mall near the intersection of East 168th Avenue and Interstate 25 in this city north of Denver. Today, there is little more than prairie and recreational vehicle parks in the area.

But, it’s a fast-growing area with a huge potential, according to Perlmutter. The city agreed to give Perlmutter & Co. a portion of the mall’s sales tax to offset construction costs. The mall is slated to be 1.2 million sf, about the same size as the recently opened Colorado Mills in Lakewood. It is scheduled to open as early as 2007.

Perlmutter hasn’t determined the site plan or whether the shopping center will take the form of a more traditional enclosed mall or an outdoor power center.

Rooftops will soon be there to support the development. About 40,000 homes are under construction, or scheduled for construction, nearby. In the next 25 years, Adams County is expected to add 240,000 residents, or grow by 67%, to a population of 600,000. Additionally, in January, the nearby leg of E-470 will open to connect to Interstate 25.

Several retail experts said they think Perlmutter will do well.

“That northern corridor is severely under-retailed,” says Philip Hicks, principal of David Hicks Brokerage Inc. “They need just about everything up there.”

Gregory A. Moran, vice president of leasing for Miller Weingarten, says the city picked a developer with a stellar reputation when it chose Perlmutter. “If you look at Perlmutter’s career, he hasn’t made too many mistakes,” Moran says.

Kelly Greene, a retail broker with Unique Properties, agrees. “He would probably tell you there are things he would have done differently, but looking over his accomplishments, I can’t see where he made any mistakes,” Greene tells

Jordon Perlmutter & Co. built Northglenn, Southglenn and Southwest Plaza regional shopping malls, as well as Bowles Crossing and the recently completed outdoor Marketplace at Northglenn.

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