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Page 28 — Retail Properties Quarterly — August 2017
their money habits, goals and action
plans, or help them open and man-
age their accounts.
Guests also have the opportunity
to check out the demo bar and chal-
lenge their financial knowledge
through interactive screens that
provide educational money content.
Many café demo bars are equipped
with Amazon Echos, where custom-
ers can test out the latest in voice-
assistant technology and learn how
to use the Capital One skills with
Alexa.
As the commercial retail industry
continues to evolve, the spaces they
occupy will need to evolve as well if
they want to stay relevant. Providing
great products and great customer
service is essential, but it’s equally
important to connect and engage
with customers through your physi-
cal space by showing them, not just
telling them, that you are an innova-
tive and future-focused retail busi-
ness that caters to the way people
live and interact with your products
now. The future of banking – and
commercial real estate as a whole
– is exciting, and new concepts like
the Capital One Cafés are just the
beginning.▲
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While the Colorado Real Estate Journal continues to run a retail news section in each
issue of the newspaper, Retail Properties Quarterly features the most interesting
projects and people, trends and analysis, and covers development, investment, leasing,
finance, design, construction and management. The publication is mailed with the
Colorado Real Estate Journal newspaper, a 4,000-plus distribution that includes
developers, investors, brokers, lenders, contractors, architects and property managers.
Fitness concepts increaseretail competition
ergers, including 24Hour
September 2015
Photo courtesy:Wellbridge
ter (above) andWelton Street facilities.
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 Development &
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Trends
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 and more
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Rowan
certain requirements for production,
which include high ceilings for kettles
– usually 12 feet or higher – and slab-
on-grade to accommodate kettles
that can weigh as much as 15 tons,
depending on the brew system.
Real estate deals for microbreweries
are special in that the brewers need
to obtain approvals based on their
production and distribution, but they
need to have a lease in place (with
appropriate contingencies) before they
can set up their systems. Deals usu-
ally require four to six months of free
rent as the brewer sets up operations
and navigates the approval process.
While the craft brewing trend is in
a new phase of maturity, there are
still many opportunities for growth.
According to a list of upcoming brew-
eries compiled by COBeerGeek, there
are 190 in various stages from con-
ceptual plans to current construction
across the state of Colorado. In metro
Denver, the trend might slow down
due to the sheer number of brewer-
ies that have opened in the last few
years, but we feel growth across Colo-
rado will continue booming for years
to come.▲
Rosado
you may not find the workforce to
complete it and costs will increase
accordingly. Utilizing the general
contractor early also permits a col-
laboration between him and the
designer to further help keep your
timeline on track. For example, if
a long-lead item is going to push
the project past the deadline, they
can work together to procure these
items early or suggest in-stock items
that will fit within the schedule.
• Consider a construction manager/
general contractor delivery method.
Some owners choose to negotiate
directly with their selected general
contractor in lieu of the typical
design-bid-build delivery method.
This “hard bid” process leaves pre-
cious little time to understand lead
times, overall construction durations
and constructability. The subcon-
tractor market can then dictate the
schedule based on its availability
and may not take into consider-
ation the owner’s requirements. By
negotiating in an open-book fashion
with the general contractor, you
can better customize your construc-
tion team who then understands
the owner’s expectations and drives
toward a common goal.
• What else can you do? Planning
ahead is the single biggest thing you
can do to make your project a suc-
cess, however there are many things
that may seem somewhat incon-
sequential that can have a major
impact on your project. Making sure
that your financing is in place before
you begin and having documenta-
tion that shows it’s in order (such as
a letter from your bank) is very help-
ful. Make sure everyone involved in
the project understands from the
start what changes are and are not
allowed to be made to the property
– and who will be paying for each
of those changes – this will save
headaches and precious time during
construction.
Ensuring the design team under-
stands the branding standards
(especially in the case of a franchise)
is crucial. If you, as an owner, are
providing items that will be used in
the construction process, be sure
those items are ordered well ahead
of time and coordinated within the
design documents to avoid delays.
Finally, being responsive and deci-
sive are two of the most important
aspects of a quick-turn project and
can make the difference between
finishing on time and not.
There’s no doubt that quick-turn
projects can be a challenge. But
when all the parties involved work
together to make them a success, it
makes all the difference. ▲
Nook
Captial One
Moving away from the typical banker sitting behind a desk, “ambassador coaches” touting
iPads meet with customers to answer questions in a more casual environment.