A new high-end sporting goods chain is heading to easternColorado Springs, possibly bringing more luxury retailers with it.
Indianapolis-based Galyan's will be one of the first majorretailers to open up at the new First and Main shopping area, beingdeveloped by Nor'wood Development Group on Powers Boulevard andCarefree Circle. It will flank the new Cinemark Theater, which openedin November.
Though the Galyan's opening is at least a year away, some peoplethink it will act like a magnet for other retailers.
Though Colorado Springs has plenty of retail, local shopperswanting pricey stores like Banana Republic, Ann Taylor and Crate andBarrel have had to drive to Denver. Galyan's is in the same league asthese stores in the prices they charge and the brands offered. Thechain already has a Colorado location in the Flatirons Crossing mallin Broomfield.
Fred Crowley, an economist with the Pikes Peak Area Council ofGovernments, says the rate of growth over the past 10 years willcontinue to attract more high-end retailers to the Springs.
Colorado Springs is 'virgin territory to these high-endretailers,' Crowley said. 'What a lot of people are saying is thatthere's more money in town. As a result of that, you're going to seethose (retailers) go out and tap that money.'
There's a total of 865,000 square feet of retail space availablein the First and Main area; Nor'wood's Fred Veitch said that couldmean up to 20 new stores.
The two-level, 80,000-square-foot Galyan's will employ about 150and offer equipment ranging from dartboards to kayaks. There willalso be a two-story climbing wall.
Galyan's has 21 stores throughout the country. A constructionstart date hasn't been determined. Because of work on an initialpublic stock offering, Galyan's officials are barred from speaking tothe media and couldn't comment.
Also at First and Main, a Lowe's Home Improvement store hasopened, as has a Kohl's department store. Another 10 restaurants areplanned.
Steve Quintin, a leasing agent hired by Nor'wood and a realestate consultant with Westfair Realty Advisers, says the area'straffic patterns are one of its best features. He favors the siteover congested Academy Boulevard.
'Powers is a better designed road and friendlier to use,' Quintinsaid. 'Academy is a little bit stop and go, and you don't go very farbefore you have another traffic light.'
But it's not just the location that will draw retailers, he said.Colorado Springs has a healthy downtown, a thriving tourism industry,record housing starts and a healthy mix of existing retail outlets.
'If we can jazz up that retail, you'll hit a home run,' Quintinsaid.
