DPC Companies and Ogilvie Partners have acquired Englewood CityCenter. The two companies – longtime friends, frequent collaborators, and sometimes competitors — closed the transaction on December 20, 2024, following several years of working to secure the asset.
The acquisition of the ~220,000-square-foot mixed-use office, retail, and multifamily property ushers in an exciting new era for the development. Englewood CityCenter enjoys an easy-to-access location at the northeast corner of Hampden and Santa Fe, adjacency to RTD light rail/parking and top-tier retailers, favorable zoning, and enthusiastic support from the City of Englewood, positioning it as one of the most promising infill redevelopments in the Denver metro.
“It’s exciting to see that Englewood CityCenter has been purchased by local long-term ownership that can take this incredible piece of infill real estate and invest to uncover its amazing development potential,” said Lyons. “I’m thrilled that it ended up with a dynamic team of owners and developers with a strong connection to the community.”
The development’s long history is a familiar tale of changing customer preferences and demographics. When it debuted in 1968, the Cinderella City Mall was the largest indoor shopping mall west of the Mississippi, with 1.35M square feet of enclosed retail, 250+ restaurants, breathtaking fountains, and a handcrafted Italian carousel. It was a spectacular success. But in the ‘80s, vacancies mounted and Cinderella stood in rags.
The City of Englewood initiated redevelopment in 1991, demolishing the mall in 1998 and reinvigorating the site as the home of city offices, inline retail, out-parcel buildings, and a parking structure. Over the years, however, the development’s retail portion struggled and was ultimately foreclosed upon, with an out-of-state company owning and managing the property.
The City of Englewood is eager to find a viable path to making Englewood CityCenter a central part of the city’s future. To that end, DPC and Ogilvie are working with the city on a master redevelopment plan integrating a long-term vision to create a true community center with high-density multifamily housing, open space for community gatherings, and a walkable live/work/shop experience that will include shopping, services, restaurants, and a hotel within the 12-acre site.
The center was 40% leased at the time of closing, with tenants such as Harbor Freight, Ross Dress for Less, Petco, Tokyo Joe’s, Jersey Mike’s, and Einstein Bros. remaining in occupancy. An adjacent Walmart Supercenter (not part of the acquisition) serves as a strong shadow anchor. DPC and Ogilvie are excited about the development’s potential and elated to play a role in helping the City of Englewood build an even more vibrant future.