The Village at Castle Pines changes ownership
By Amy Shanahan; photo courtesy of Jimmy Dozer
The new year marked a new beginning for The Village at Castle Pines (VACP), a unique and welcoming area of shops, restaurants, and businesses located at the corner of Santa Fe and Happy Canyon Road.
The shopping center had been for sale, and in January it was officially purchased by Castle Pines Investment Partners, LLC, a joint venture between Redfearn Capital and JDI Realty. The partners each have many years of investment experience throughout the greater Denver area, and are excited to bring their expertise to the Castle Pines market. The new owners have teamed up with an experienced local management team, Newmark Grubb Knight Frank in order to provide hands-on services to the merchants in the VACP.
Alex Redfearn of Redfearn Capital remarked, “The VACP has an outstanding mix of specialty retail shops, restaurants and service providers. The property provides neighborhood residents a single destination for all of their regular shopping needs,” said Redfearn. “We took interest in the VACP because of the prime location and the tenant variety that will consistently attract shoppers to the center. We expect strong demand from new merchants whenever there is vacancy available as evidenced by the minimal in place vacancy. We are also excited about the current development underway in the Castle Pines market. We believe the center is well positioned to benefit from significant market growth in the upcoming years.”
The new owners plan to make some improvements to the neighborhood center with updated landscaping, signage and lighting in order to continue to make it a prime location for shopping, eating, exercising, and conducting business. Ownership is also looking forward to providing a sense of community to the area. “We plan to work with merchants to attract new and regular visitors to the center by hosting more community events,” stated Redfearn. “The property is a neighborhood center and we want to emphasize the neighborhood feel.”
The merchants of the VACP will be hosting the Spring Fling on April 25 from 11 a.m. to 5 p.m. The entire community is encouraged to stop by to enjoy live entertainment, demonstrations, a dog show, food trucks, face painting and loads of fun for the whole family. For more information, visit www.TheVillageatCastlePines.com.