New Watertown Mall Will Include Lewis Drug – SiouxFalls.Business
July 14, 2022
Lewis Drug will be the first tenant in a new retail development in Watertown.
The developer is Sinclair Land & Cattle Co., which is the development arm of Montgomery’s Furniture.
The company partners with Crestone Cos. to plan and build the area between Highway 212 and Jensen Avenue.
“When we purchased the EconoFoods property in Watertown 10 years ago to grow our Montgomery’s Furniture brand, we entered into development discussions with city officials and Eric Skott of Crestone,” said Clark Sinclair, CEO of Montgomery’s and Sinclair. Land and Cattle Co.
“The plan has evolved to include a prime commercial development with four separate buildings. Lewis is the first phase of this plan. I want to commend Watertown City officials 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.
Lewis Drug plans to open in early 2023, making it the Sioux Falls retailer’s 58th store in the area.
“As Lewis Drug celebrates its 80th anniversary, it’s only fitting that we have the opportunity to serve one of South Dakota’s most vibrant communities! We look forward to being part of the Watertown community and supporting its continued growth,” said Mark Griffin, President and CEO of Lewis Drug.
Crestone’s development division is working through tax increment financing with Sinclair, its commercial real estate division lists and markets the property, and its builders division will act as the construction manager, while completing other improvements to the property.
“I have worked closely with Eric and Clark Sinclair over the past few years to develop this property,” said Eric Skott, Crestone’s President and CEO.
“The Sinclair Square development will transform this far-reaching area, setting the bar high both for adjacent landowners and for future development in the area. A talented group of professionals ranging from City Hall to developers to property owners came together, working diligently to bring this project to fruition.