Sinclair Land & Cattle Company is teaming up with Crestone Companies to build a new retail development, Sinclair Square, next to Montgomery’s Furniture in Watertown.
They are also excited to announce that Lewis Drug of Sioux Falls will be the first tenant as construction has already begun on its first store in Watertown as part of the development that sits between Hwy. 212 and Jensen Ave.
“When we purchased the EconoFoods property in Watertown ten years ago to expand our Montgomery’s Furniture brand, we began development discussions with city officials and Eric Skott of Crestone,” said Clark Sinclair, CEO of Montgomery’s Furniture and Sinclair Land and Cattle Company. “The plan evolved to include a premier retail development with four separate buildings. Lewis is the first phase of this plan. I would like to compliment the city officials of Watertown for sharing our vision and working with us to develop Sinclair Square which will generate job growth and expand shopping opportunities for Watertown and the surrounding area.”
Crestone Companies will be partnering with the Sinclairs in several capacities. Its Development Division collaborated on the site plan and TIF. CCRE, its commercial real estate division will handle the listing and marketing of the property and Crestone’s Builders Division will act as the construction manager along with other improvements to the property.
“I have worked closely with Eric and Clark Sinclair over the past several years to develop this property, said Eric Skott, the President and CEO of Crestone Companies. Crestone Development has led the conceptual planning and site-planning process. We led the TIF process working closely with owners and community stakeholders (Watertown Development Company and City officials from several departments) to master plan this area. The Sinclair Square Development will transform this high-profile area, setting the bar high for both adjacent landowners and for future development in the area. A talented group of professionals from city hall to developers to the owners of the property came together working diligently to make this project happen.”
Lewis Drug’s expansion to Watertown will mark its 58th store in the region. It’s been a neighborhood staple for everyday basics, plus name brands, specialty items, quality prescription and non-prescription drugs since 1942.
“As Lewis Drug celebrates its eightieth anniversary it’s only fitting that we have the opportunity to serve one of the most vibrant communities in South Dakota! We are looking forward to being a part of the Watertown community and supporting its continued growth,” said Mark Griffin, President and CEO of Lewis Drug.
A January 2023 opening is expected.
