Northglenn Marketplace Sold

Focus on refreshing, rebranding, and reenergizing the center

(Northglenn, CO) The Northglenn Marketplace, located at I-25 and 104th Ave., has been purchased by an affiliate of Hutensky Capital Partners (HCP) of Hartford, CT. The 439,000 square foot center on a 55 acre site was sold for $48 million.

Described as a “power shopping center,” the Marketplace currently features best-in-class retailers including Bed Bath and Beyond, Ross Dress for Less, Office Depot, PetSmart, JOANN, and Lowe’s Home Improvement.
“This represents a great opportunity to invest in a healthy retail market and our Fund has the expertise to help the property reach its full potential,” said Brad Hutensky, CEO of HCP. “We are also excited about the opportunity to work with the City of Northglenn and our retail partners to create a revitalized center.”

HCP has hired a top-notch team to assist in the stabilization and redevelopment of the center. This includes Denver based Evergreen Development, the Mulhern Group, SullivanHayes Brokerage, and Kimley-Horn. “Evergreen is thrilled to work with HCP and its team on planning and executing the redevelopment of Northglenn Marketplace,” said Tyler Carlson, Managing Principal, and Evergreen Development. “We look forward to working closely with the city and the Urban Renewal Authority in partnership to reinvigorate this important asset and to restore its relevance in today’s ever-changing retail environment,” said Carlson.

Refreshing, rebranding and reenergizing the center is a primary goal of HCP. They plan to stabilize the center by filling the empty storefronts with new businesses while retaining current tenants. The initial focus will be a combination of retail, restaurants, and entertainment related tenants.

The Marketplace has seen several retailers relocate or close nationally during the last several years. “I really have to salute the current businesses in the center for their loyalty to Northglenn,” said Debbie Tuttle, manager of Economic Development and executive director of the Northglenn Urban Renewal Authority for the city. “This will be a destination location where families and visitors will want to be. The new center will become a part of their lives for shopping, restaurants and entertainment.”

City of Northglenn
11701 Community Center Drive
Northglenn, CO 80233
303-451-8326