Koelbel and Company today recognized the grand opening of the new King Soopers Marketplace at the former Lowe’s Home Improvement property at 1171 W. Dillon Rd. in Louisville, marking the successful redevelopment of one of the community’s most prominent vacant commercial sites.
Formerly envisioned as a life sciences and advanced manufacturing hub, the redeveloped property officially opens June 24, bringing expanded grocery, fuel and community services to Louisville residents.
The 122,000-square-foot building, which remained vacant after Lowe’s closed the location in 2019, was acquired by Dillon Companies, a subsidiary of The Kroger Co., for $22.6 million. Following a $23.6 million redevelopment effort, the new King Soopers Marketplace is now officially open for business.
Prior to the sale, Koelbel and Company partnered with Vitrian to explore redevelopment of the site as the Centennial Valley Innovation Center, a proposed biotech and advanced manufacturing campus designed to attract high-growth industries and create quality jobs in Boulder County. While that vision ultimately did not move forward, the company remains encouraged by the property’s successful reuse and reinvestment.
“Large-format vacant retail buildings present unique redevelopment challenges, and our goal has always been to see this important Louisville site returned to productive use,” said Carl Koelbel, president and CEO of Koelbel and Company. “While the Centennial Valley Innovation Center represented an exciting opportunity to bring life sciences and advanced manufacturing jobs to the region, we are pleased to see the property transformed into a vibrant community asset that will serve Louisville residents for years to come.”
The new King Soopers Marketplace features a full-service grocery store along with an in-store Starbucks, Murray’s Cheese Shop, sushi department, drive-thru pharmacy, pickup and delivery services, and an adjacent fuel center with five fuel pumps and eight electric vehicle charging stations.
The opening represents the culmination of years of planning and redevelopment efforts aimed at bringing new life to the highly visible property and underscores the continued demand for strategic reinvestment in existing commercial assets throughout the region.
“Successful redevelopment is ultimately about creating value for the community,” said Koelbel. “Whether through employment centers, housing, mixed-use projects or neighborhood-serving retail, bringing underutilized properties back to life strengthens the local economy and enhances quality of life. We congratulate King Soopers and the City of Louisville on the grand opening and look forward to seeing the positive impact this investment will have on the community.”
Koelbel and Company remains committed to identifying innovative redevelopment opportunities throughout Colorado that address evolving community needs while creating lasting economic value.
