Upgrades at open-air Colorado center include new tenants, gathering spaces, ice rink
New tenants are arriving at The Promenade Shops at Centerra amid its new owner’s efforts to revitalize the property.
One year after acquiring the open-air center in Loveland, Colo., for $55 million, Wisconsin-based Galway Companies Inc. is advancing a multimillion-dollar, property-wide reinvestment in the 494,500-sq.-ft. mall, signing nine new retailers and restaurants as renovations move forward across the property.
In its first year of ownership, Galway has signed nine new leases totaling 37,643 square feet. New tenants include Miniso, Christopher & Banks and Windsor, which are opening this fall, followed by JD Sports, Hot Topic, BoxLunch, Cabinet IQ, Hot Pot Grill and Los Dos Potrillos, which are all anticipated by spring 2027.
The Promenade Shops at Centerra is anchored by Macy’s, Dick’s Sporting Goods, Best Buy, Barnes & Noble and MetroLux Theatres.
In addition to the new tenants, Galway says that every building on site is undergoing renovation. Improvements completed or underway include:
- New storefront facades, with Famous Footwear reopened in the first completed storefront;
- A redesigned ice rink scheduled to open in late November 2026;
- New landscaping along Main Street and updated property lighting;
- Additional seating and refreshed outdoor gathering spaces;
- A new monument sign along Interstate 25 and new entrance signage;
- Property-wide Wi-Fi and enhanced security; and
- New roofing across 10 buildings.
A broader streetscape renovation is scheduled for completion in spring 2027. Additional property improvements, tenant openings and community programming will continue into next as Galway advances the property’s long-term repositioning.
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“What the center needed was an owner willing to invest meaningfully in the experience, and that’s exactly what we’re doing,” said Steve Doran, founding principal of Galway Companies, Inc. “Nine new leases in the first year tells me retailers see the same thing we do. We are leaning into this center and are hyper-focused on building a curated merchandising mix. At the same time, we’re leaning into traditions families in this area have loved for a generation – from ice skating to holiday events and activations.”
The Promenade Shops at Centerra sits at the Interstate 25 and U.S. Highway 34 interchange, where more than 85,000 vehicles travel I-25 near the property each day, according to Galway. The center’s trade area includes approximately 370,800 residents.
According to Placer.ai data cited by Galway, The Promenade Shops at Centerra ranks among the top 8% of shopping centers nationally for visits.
Galway owns a 2 million-sq.-ft. shopping center portfolio and multi-family communities across Wisconsin and Colorado, including The Waverly, The Eastern, The Current and Greenway Station in the Madison area. The Promenade Shops at Centerra represents Galway’s first investment in Colorado.
