Nov. 27, 2023

A 20-acre parcel along Veterans Parkway has a new owner.

The property on the southwest corner of 57th Street and Veterans Parkway was owned by Bierschbach Equipment & Supply.

“They intended at one point to have a second location in Sioux Falls and thought the southeast corridor would make some sense for them,” said Reggie Kuipers, president of Bender Commercial Real Estate Services, who represented both side of the transaction.

“In retrospect they … feel like they can service Sioux Falls from their existing location.”

The buyer is a local investment group that sees the property as a mix of uses, including potential recreation facilities and possibly a hotel, Kuipers said.

“They’re going to do some site work yet this year,” he said.

“I think this is going to be a flex development site, taking advantage of the visibility along (Highway) 100. It’s going to be more destination and service-based than convenience and retail-based, but I could see some flex industrial equipment rental company. I could see a showroom for tile and carpet, a design component type of building. I could see a car lot.”

Multiple buyers were interested in the land, including one that would have done a large multifamily project, but the area’s recent flood plain designation presented complications, Kuipers said.

“It’s difficult to finance,” he said. “They’re going to lose one of nine lots due to the compensatory storage requirement with the new flood plain.”

Sanford Health owns 100 acres on the northeast corner of the intersection.

The most recent deal “just shows the continuous development and activity along Highway 100,” Kuipers said. “I’m shocked right now (when) I look back on how much land we’ve sold. It’s an incredible amount of land … and it doesn’t seem to be slowing down.”