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 is teaming up with Crestone Cos. to master plan and build out the area between Highway 212 and Jensen Avenue.

“When we purchased the EconoFoods property in Watertown 10 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 and Sinclair Land and Cattle Co.

“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.”

Lewis Drug plans to open in early 2023, making it the Sioux Falls retailer’s 58th store in the region.

“As Lewis Drug celebrates its 80th 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.

Crestone’s development division is working through tax increment financing with Sinclair, its commercial real estate division is listing and marketing the property, and its builders division will act as construction manager, along with completing 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.

“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.”