Luther Midelfort signs lease for new pharmacy
Posted: August 3, 2007
TBL has learned that officials with Luther Midelfort have finalized the lease agreement for a new downtown Eau Claire pharmacy. The 14,000-square-foot, two-story facility, which will be developed at the corner of East Madison and North Barstow Streets, will include the pharmacy on the first floor and office space available for lease on the second floor.
"We will be closing with the city next Wednesday (Aug. 8th) on the purchase of the land and we plan to start construction by mid-August," said Geoff Moeding, a partner in the dowtown revitalization effort with Mike Lander of The Lander Group. Officials with Luther Midelfort were not available to comment prior to TBL's Wednesday deadline.
"We also plan to begin construction in October on a 32-unit residential complex with an underground parking ramp. We also have a signed letter of intent with The Coffee Grounds to occupy part of a 7,000-square-foot retail building," said Moeding, who added that the pharmacy building is expected to be completed by early March.
The first phase of the development agreement calls for The Lander Group to develop property in a two-block area while the second phase involves another two-block area. In all, the developer will own roughly four blocks which includes land from Riverside Terrace to North Barstow and East Madison to Galloway Street. TBL