Major renovations, new retailers and a redesigned ice rink are reshaping the Loveland shopping center following Galway Companies’ $55 million acquisition.
By North Forty News Staff | NorthFortyNews.com
LOVELAND, Colo. — One year after purchasing The Promenade Shops at Centerra for $55 million, Galway Companies is moving ahead with a major reinvestment in the Loveland shopping destination, including nine new retailers and restaurants and renovations throughout the property.
The Wisconsin-based real estate company acquired the 494,500-square-foot open-air shopping center in August 2025, its first Colorado investment. Since then, Galway has focused on modernizing the property, expanding its mix of businesses and creating additional reasons for Northern Colorado residents to visit.
The company says it has signed nine new leases totaling 37,643 square feet during its first year of ownership.
MINISO, Christopher & Banks and Windsor are expected to open this fall. JD Sports, Hot Topic, BoxLunch, Cabinet IQ, Hot Pot Grill and Los Dos Potrillos are anticipated to open by spring 2027.
“The location and the customer were never in question here,” said Steve Doran, founding principal of Galway Companies. “What the center needed was an owner willing to invest meaningfully in the experience, and that’s exactly what we’re doing.”
Doran said the company is working to build a more carefully selected mix of businesses while preserving traditions that have long drawn families to the center, including ice skating and holiday events.
Millions of Annual Visits
According to Galway, The Promenade Shops attracts approximately 3.8 million visits annually, or more than 70,000 per week. Tenants reported $109 million in sales between September 2025 and September 2026.
The company also cited Placer.ai data ranking the Promenade among the top 8% of shopping centers nationally for visits.
The investment comes as retail space remains tight across Northern Colorado. CBRE reported the region’s retail vacancy rate at 3.1% in the first half of 2026, down 50 basis points from the same period a year earlier.
Growth surrounding the Interstate 25 and U.S. Highway 34 corridor is also contributing to the changing retail landscape. Nearby Weld County reached an estimated 378,426 residents in 2025, according to U.S. Census Bureau figures cited by Galway.
Renovations Underway Across Center
Every building at the Promenade is undergoing some level of renovation, according to the company.
Improvements include new storefront facades, landscaping along Main Street, upgraded property lighting, additional seating and refreshed outdoor gathering areas. Famous Footwear has already reopened in the first completed new storefront.
A redesigned ice rink is scheduled to open in late November.
Other work includes a new monument sign along Interstate 25, updated entrance signage, property-wide Wi-Fi, enhanced security and new roofing on 10 buildings.
The broader streetscape renovation is expected to be completed in spring 2027.
The Promenade is located at the I-25/U.S. 34 interchange. Galway says the center serves a trade area of approximately 370,800 residents.
Retail development surrounding the property is also expanding. Bass Pro Shops has opened nearby, while Costco, Whole Foods Market and King Soopers are among the retailers planned for the surrounding area.
Events Remain Part of Reinvestment
Galway says the changes are intended to make the Promenade more than a shopping destination, with community events and gathering spaces remaining an important part of the property’s future.
The center’s annual Halloween celebration is scheduled for Oct. 25. The redesigned ice rink is expected to follow in late November, with December activities including live reindeer, Breakfast with Santa and Photos with Santa.
Additional tenant openings, property improvements, and community programming are planned throughout 2027.
More information about stores, events and developments at the Promenade is available at ThePromenadeShopsAtCenterra.com.
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