SIOUX CITY — Chris Bogenrief envisions Sunnybrook Village as a game-changer for Sioux City’s retail scene when the first phase of the new retail center opens in 2018.
The under construction 64-acre development at the corner of Sunnybrook Drive and Sergeant Road will be about 15 percent smaller than Lakeport Commons, a 456,690-square-foot development that opened in 2005 at the intersection of Sergeant Road and South Lakeport Street, but will host some national retailers new to the Sioux City market.
“They haven’t gone public with the names yet, but you will see a grocery store down there,” said Bogenrief, president of NAI United.
Bogenrief said most of the dirt work is close to being completed and expects to see construction to start sometime this fall.
“2018 is when you’ll start seeing some bigger box retail stores come out of the ground,” he said.
Bogenrief thinks Sunnybrook Village could also help give Sioux City an edge when attracting out-of-town shoppers.
“Everytime we get significant retail expansion, our trade market seems to expand, meaning we start to pull and draw from a larger area than we had been,” he said.
Bogenrief estimates Sioux City’s current trade market extends to Onawa to the south and Vermillion, South Dakota to the north, both of which are also close to Omaha and Sioux Falls, respectively.
"The people that are on the borders — I'm talking halfway to Sioux Falls — the more options we have around here, the more likely they'll come south instead of go north and the sames goes for Onawa," he said. "Every time we had more options and stores we didn't have before, our trade market gets a little bit wider."
Sunnybrook Village is being developed by Anthony Properties of Dallas, which has committed an overall capital investment of $50 million, with $20 million for multi-residential property and $30 million for the commercial property under an agreement with Sioux City.
Bogenrief, who is tasked with recruiting local and regional partners for the shopping center on behalf of Anthony Properties, said once deals are secured with the big box retailers, the development will start to fill in some of the smaller outlier tenants.
“I don’t really see those developing until 2019,” he said. “You usually let the anchor stores develop the site plan, and they don’t want to develop anything else until the anchor stores have the site plan how they want it.”
Significant progress has already been made on the nearly complete The Summit at Sunnybrook Village, a 225-unit high-end apartment complex that overlooks the retail development a portion of its name is derived from. SUN Investors, LLC and Perry Reid Properties of Lincoln, Neb., teamed up to build the apartments.
“There’s actually another five acres up there as well that they can do a phase two of the apartment,” Bogenrief said.
The Summit at Sunnybrook Village offers apartments ranging from a 765-square-foot one bedroom, one bathroom unit starting at $865 a month up to a 1,348-square-foot three bedroom, two bathroom model starting at $1,295 a month.
Apartment come with a washer and dryer, stainless steel appliances, a balcony or patio and offers spacious bedrooms with walk-in closets. Additionally, the complex itself was master planned inside of a gated community and features a state-of-the-art fitness center, a cyber cafe with wireless internet, a resort style swimming pool, a clubhouse with fireplace and 24 hour maintenance service.
Something that fascinates Bogenrief about the Sunnybrook Village is how it's based on a failed business deal. Originally, Jay Anthony, principal of Anthony Partners, wanted to build a movie theater on the site. When he was unable to reach a deal with the film chain operator, Anthony still opted to buy the land with Bogenrief's assistance and develop the 64-acre parcel.
"After doing all his research, he thought our economy was good and it would have a good a chance to develop," Bogenrief said.