Edgewater Public Market sells for $25.5M
by Avalon Jacka
EDGEWATER – A local commercial real estate investment firm purchased a popular market hall west of Denver in December.
CentrePoint Properties, using the entity Edgewater Public Market LLC, acquired Edgewater Public Market from LCP Edgewater LLC for $25.5 million, according to SKLD Information Services. The strategic investment is the third addition to Cent rePoint’s Fund I portfolio. The selling entity’s address listed on Jefferson County public records is associated with Denver-based LCP Development, which purchased the site for $5.8 million in 2018.
“We believe Edgewater Public Market stands as one of the best market halls in Colorado,” said CentrePoint Properties CEO Tucker Manion. “The LCP team has done a tremendous job with the redevelopment, creating a vibrant and inviting space for the community.”
LCP Development redeveloped the former King Soopers grocery store site and opened Edgewater Public Market in Located at 5505 W. 20th Ave., the 76,000-square-foot, Class A market hall is positioned five blocks west of Sloan’s Lake Park and is surrounded by residential neighborhoods.
Edgewater Public Market is home to 16 food and beverage businesses, a cocktail bar, a brewery, and 17 retail and experience-based businesses. A majority of the businesses are independently and locally owned. The property also comprises three additional buildings that include Shake Shack, Syrup, Veterinary Emergency Group, Adelita’s Cocina y Cantina and four fitness businesses.
“We love the unique nature of the market hall,” Manion added. “Edgewater Public Market is the centerpiece shopping and dining destination in one of Denver metro’s best neighborhoods. It’s already a success, and our vision is to take the center to the next level.”
Since its opening, Edgewater Public Market has become a frequent gathering place for locals and tourists. It hosts a weekly movie series from July to October, bimonthly pop-up markets, live music, special events around most holidays, and other events throughout the year. Regular customers should not expect to see immediate changes.
“The community of Edgewater and our surrounding Denver neighborhoods have really embraced this market hall,” said Gisela Mediavilla, Edgewater Public Market general manager. “We’ve got a lot of regulars, and a lot of small business owners doing really interesting things here.”
CentrePoint is an opportunity-focused real estate company that works in all major markets in Colorado and Arizona. Founded in 2008, the firm has more than $400 million in assets under management. The firm purchased two industrial parks in Longmont last year, according to previous reporting.