One year after acquiring The Promenade Shops Centerra for $55 million, Galway Companies, Inc. is advancing a multimillion-dollar, property-wide reinvestment in the 494,500-square-foot open-air shopping center, signing nine new retailers and restaurants as renovations move forward across the property.
Galway acquired The Promenade Shops Centerra in August 2025, marking the Wisconsin-based real estate company’s first investment in Colorado. Since then, the ownership team has focused on a long-term repositioning strategy designed to modernize the property, strengthen its tenant mix and create more reasons for the Northern Colorado community to visit and spend time at the center.
In its first year of ownership, Galway has signed nine new leases totaling 37,643 square feet, building on an established customer base that generates approximately 3.8 million annual visits, more than 70,000 per week, and $109 million in reported tenant sales from September 2025 to September 2026. According to Placer.ai data, the Promenade Shops ranks among the top 8% of shopping centers nationally for visits.
New tenants include MINISO, Christopher & Banks and Windsor opening this fall, followed by JD Sports, Hot Topic, BoxLunch, Cabinet IQ, Hot Pot Grill and Los Dos Potrillos – all anticipated by spring 2027.
“The location and the customer were never in question here,” said Steve Doran, founding principal of Galway Companies, Inc. “What the center needed was an owner willing to invest meaningfully in the experience, and that’s exactly what we’re doing. 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.”
Galway’s investment comes amid continued growth and tightening retail availability across Northern Colorado. Adjacent Weld County remains one of the state’s fastest-growing areas, adding nearly 50,000 residents since 2020, a 15% increase, to reach 378,426 residents in 2025, according to U.S. Census Bureau. At the same time, Northern Colorado’s retail vacancy rate fell to just 3.1% in the first half of 2026, down 50 basis points year over year, highlighting strong market fundamentals as Galway continues to invest in the Promenade and attract new retailers.
That investment is becoming increasingly visible across the Promenade, with every building in the center 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
- New roofing across 10 buildings
The broader streetscape renovation is scheduled for completion in spring 2027.
The Promenade sits at the Interstate 25 and U.S. Highway 34 interchange, within a rapidly evolving regional retail corridor. More than 85,000 vehicles travel I-25 near the property each day, while the center’s trade area includes approximately 370,800 residents, U.S. Census reports. The surrounding retail landscape is also expanding, with Bass Pro Shops now open and Costco, Whole Foods Market and King Soopers planned nearby.
Beyond physical improvements and leasing, Galway is investing in the Promenade as a gathering place, pairing the property’s longstanding traditions with new experiences and programming. This fall and winter will provide some of the first opportunities for the community to experience that evolution. The center’s annual Halloween celebration returns Oct. 25, followed by the opening of the redesigned ice rink in late November and holiday programming including live reindeer, Breakfast with Santa and Photos with Santa in December.
Additional property improvements, tenant openings and community programming will continue into 2027 as Galway advances the Promenade’s long-term repositioning.
