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Cabela's selling Wheat Ridge site

9:54 PM, Jul 28, 2011   |    comments
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The Nebraska-based outdoor-gear retailer says it is looking at the Denver market in a new way.

"As a company, we have shifted to our next-generation store format with an accompanying shift in real estate strategy," Tommy Millner, Cabela's chief executive officer, said in a news release. "We are sharpening our focus on serving our loyal customers and are reducing our involvement in the land development business. This change has influenced our strategic approach to the Front Range marketplace. We are looking at the Denver market in a fresh way."

Cabela's other Colorado store is located in Grand Junction. That store opened in May 2010.

Cabela's had bought the site at Interstate 70 and Colorado 58 in Wheat Ridge from Coors Brewing Co. in 2004 for a $3.5 million price tag.

Regarding the property in Wheat Ridge, Millner said, "It's a great, centrally located site and we are confident a developer will build it into a successful retail project."

After buying the Wheat Ridge site, the company had hoped to open the store by 2006, but the city of Wheat Ridge wanted the company to pay more to help widen the roads in the area. Wheat Ridge also wanted money for a new I-70 interchange and other road work.

"Wheat Ridge officials and other government agencies have worked diligently and cooperatively with Cabela's throughout the process," Millner said. "We are thankful for these efforts and the support we received from the Wheat Ridge community."

It is unclear how much Cabela's will sell the Wheat Ridge land for or who might buy it.

(KUSA-TV © 2011 Multimedia Holdings Corporation)

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