By Teresa Herriman, The Courier-Herald

Construction has begun on Bonney Lake Plaza West, a new retail center located on state Route 410, just west of the Rite Aid store.

The property will be managed by Sumner based-Investco Management Services and developed by its sister company, Tarragon.

When complete, the plaza will include 30,000 square feet of buildings, but it will not be a strip mall, Investco's Mark Walsh said.

"It will be five different lots with five different buildings," he said.

"We are going to be providing retail padsŠthat can be sold, leased or any combination."

The five lots rest on 5.3 acres of land with an access road across from 211th Avenue.

A separate project, Bonney Lake Plaza East, is being also developed by the firm on property north of Rite Aid off of 214th Avenue. Wetlands divide the two projects.

Walsh said Investco has owned the property for 20 years, deciding to build now because of the growth in Bonney Lake.

"We think it's is a good market out there and we think the time is now," he said.

Walsh expects tenants to include a variety of retail businesses.

"A bank is a natural and a stand alone restaurant makes sense," he said.

As of yet, there are no confirmed businesses for the site.

"We are still in the early stages," Walsh said.

Investco Management Services and Tarragon are operated by parent company, Investco Financial Services, whose other subsidiaries include Investco Properties Development Corporation, Lakeland Communities, Tarragon Communities, and the Truss Company and Building Supply.

Founded in 1982 by Michael J. Corliss, Investco Financial Services develops commercial and residential properties throughout the Puget Sound region. The company's most recent project in the area is the shopping mall on Lake Tapps Parkway in Auburn.

Teresa Herriman can be reached at therriman@courierherald.com

Comment on this story.

COMMENTING RULES: We encourage an open exchange of ideas in our online community, but we ask you to follow our guidelines for respecting community standards. In a nutshell, don't say anything you wouldn't want your mother to read.