New life for corner of Collins Road and First Avenue intersection

A new office and retail center will soon replace what has been a long time restaurant location at the corner of Collins Road/Highway 100 and First Avenue SE in Cedar Rapids.

WCT CR of East Peoria, Ill., has purchased the 0.6-acre property and former Fiesta del Sol building from Cedar River City Investments LLC for $580,000. The restaurant has closed and the fixtures were sold at auction on Sept. 14.

Chris Wilkins of NAI Ruhl Commercial in Davenport, who represents WCT CR LLC, said the 4,200-square-foot building, which housed a Marc's Big Boy restaurant before Fiesta del Sol, will be demolished.

'Work will begin fairly quickly, given that we're running out of construction season,” Wilkins said. 'We're in the midst of finalizing drawings for a new 6,300-square-foot building.

'One tenant will have 3,500 square feet and the other will take 2,800 square feet.”

Wilkins said one of the tenants will be new to the market and the other will be relocating within Cedar Rapids. He declined to name the tenants until leases are signed.

Wilkins said the hot corner of First Avenue and Collins Road attracted the developer, noting that it has highest traffic count of any intersection in the community. He expects the new building to be completed in the first half of 2016.

Scott Olson of Skogman Commercial Realty, one of the investors in Cedar River City Investments who also listed the property, said about a dozen Cedar Rapids buildings were acquired and rehabilitated over 20 years by the partnership.

'Most of the investors, who were developers and contrctors, have either retired, moved away or both over the years,” Olson said. 'Fiesta del Sol had leased the building for more than 10 years, but the restaurant had been struggling due to increased competition and construction disruptions caused by road improvements over the summer.”

Olson said a number of offers were received for the property. Limited roadway access from First Avenue SE eliminated many of the potential uses, including another restaurant.

With the sale of the Fiesta del Sol property that was acquired 19 years ago, Olson said Cedar River City Investments LLC will be desolved.