A four-time world champion pro wrestler, "The Undertaker," is investing in Loveland.

Also known as Mark Calaway, the 6-foot-8-inch, 285-pound pro wrestler is partnering with Fort Collins resident Scott Everhart of AG Edwards in Boulder to build a two-story building at the undeveloped Crossroads Plaza.

The Calahart Building will be one of at least six buildings under construction at the plaza this summer.

The 18-acre Crossroads Plaza business park is on the southeast corner of Interstate 25 and Crossroads Boulevard, immediately east of Clydesdale Parkway. The north side of the plaza, facing Crossroads Boulevard, will feature 60,000 square feet of restaurant/retail. The south half of the plaza will feature about 120,000 square feet of offices.

Crossroads Plaza owners Troy Peterson and Philip Wenta of Flagstone Partners LLC sold the 6,000-square-foot pad of the office/retail park for $720,000, or $60 per buildable square foot, to Calaway and Everhart in February. Flagstone Partners originally purchased the 18-acre field near Budweiser Events Center in Oct. 2004.

The advantage of buying pad sites at the plaza is that parking lots, landscaping, lighting and other infrastructure are handled by Flagstone Partners, Peterson said.

Although building permits are still being arranged with the city of Loveland, crews have started grading the open field. Groundbreakings are anticipated next month for several buildings. Crews are expected to finish the 12,000- square-foot core and shell of the Calahart Building by January 2007.

Valued at $2.4 million, the Calahart Building will be for sale or for lease. One to four tenants could occupy the building, said Michelle Hickey, commercial associate broker with RE/Max Alliance Inc. Hickey is brokering the building for Calaway and Everhart's investment partnership, Calahart Crossroads LLC.

Pricing starts at $199 per square foot, without tenant finish at the Calahart Building. The lease rate will be $19.50 per square foot, triple net to start. Similar rates are listed for other Crossroads Plaza pad sites, which are listed by RealTec Commercial Real Estate Services.

"This is a great opportunity for ownership in the heart of regional development," said Hickey. "You're in the middle of where everything is happening. Everything's going to merge out there, Loveland, Fort Collins, Greeley."

Other buildings that will break ground soon include Schrader's Oil Corp. gas station and convenience store and a restaurant called 320 Main Street. Carl's Jr. will build a restaurant. Flagstone is planning to break ground on several other office buildings.

Flagstone Partners has several other development projects in Northern Colorado, including the 160-acre Eastbrook subdivision in Windsor.

Calaway and Everhart also own the mixed retail center southwest of Prospect Road and College Avenue, 111 W. Prospect Road. Several properties are available at the center, for sale or for lease, Hickey said.

Originally published April 20, 2006