Goldridge Group acquires old Kerm's building

Eau Claire-based Goldridge Group, which is developing the new Waterford project at the intersection of Main Street and South Hastings Way, and owns a number of other commercial entities throughout the Upper Midwest, recently purchased the former Kerm's Grocery building located at 329 Water Street in Eau Claire from Mike Walker.

According to Goldridge Group President Rick Bowe, Water Street Commons has finalized leases with at least two tenants and anticipates renting the remaining space to three other users.

"We are not ready to announce who the tenants are at this time...however we should have more information within the next two to three weeks," said Bowe, who added that Goldridge Construction is managing the renovation and demolition of the interior. Marshfield,WI-based Marawood Construction Services has been contracted to do the initial demolition work.

On a related note, Bowe said Goldridge Group has continued to attract interest in the 111-acre parcel that is expected to be acquired from the City of Altoona located in the southwest quandrant of Highway 53 and River Prairie Drive.

"We are partnering with Cottagewood Group to develop the residential component of the project. We are patiently waiting for the city (of Altoona) to put together the final agreement that will allow us to proceed," said Bowe. Cottagewood Group is owned by Robb Majeski and Peter Hoeft. TBL