Illinois Developer Expresses Interest in Glenwood Mall | New
Aside from a seasonal Halloween store that sets up temporarily each fall, the Glenwood Springs Mall has not welcomed too many new tenants in the past two years.
That’s not to say that the largely vacant building along Freeways 6 and 24 in West Glenwood hasn’t caught the attention of interested developers.
According to email correspondence obtained by the Aspen Daily News via a Colorado Open Records Act request, Kensington Development Partners of Illinois contacted City of Glenwood Springs staff earlier this year about a possible purchase of the center. commercial from its current owner, Frank Woods.
It was Kensington Development Director Jared Eck who contacted Glenwood Springs Deputy Director Jenn Ooton in January to express interest in the company.
“We are a very active real estate developer in Chicago, and specialize in retail / mixed-use redevelopment and shopping center acquisitions,” Eck sent Ooton on Jan. 14. “Through our retail relationships, we have several retailers that we do with whom we have asked to consider purchasing this mall in order to reinvigorate it and stimulate new tenant activity. We are in discussions. active with the owner, Frank Woods, to purchase this property.
According to the Kensington website, the group has “developed more than 69 projects totaling over 8 million square feet of property.” While most of his development took place in Illinois, Kensington also worked on projects in Minnesota, Wisconsin, and Colorado (in Centennial).
Among its projects, the main tenants of Kensington Development Partners include: Amazon Fresh, Kohl’s, Raising Cane’s Chicken Fingers, Bob’s Discount Furniture, Cooper’s Hawk Winery & Restaurants, Dollar Tree, Lululemon, Silverspot Cinema and others. Glenwood Springs Shopping Center once housed a movie theater.
On April 21, Eck told Ooton in an email that Kensington had “reached an agreement with the seller on the terms of an acquisition of the Glenwood Springs Mall portion of his property.”
Then, in late May, Eck informed Ooton and Glenwood Springs City Attorney Karl Hanlon that Kensington was “making great strides” in purchasing the mall.
“We should be officially under contract in the next few weeks and will get back to your team then,” Eck wrote to Ooton and Hanlon on May 27.
However, it’s not clear if Kensington and Woods have made a deal since then – or if Kensington is still interested in the purchase.
A representative for Kensington declined to comment for this story last month and Eck did not return a request for comment on Friday. Woods could not be reached for comment on Friday either.
Previously, other developers, like Arizona-based CenterPointe Development, have expressed interest in mall ownership, but have never been able to strike a deal with Woods.
Patrick Conarro, CEO and founder of ANEW Energy, also considered ownership for a renewable energy plant, but dropped the idea due to the mall’s proximity to housing and retail.
“We were interested in the open space that was there,” Conarro said on Friday. “We cannot disrupt the neighborhood with… wagons and trucks moving around. “
While the future of the nearly empty Glenwood Springs Mall remains uncertain, the city’s urban renewal authority, which was formed to help reinvigorate the property, will meet again in September.
“We know this is an important area for the community,” Bryana Starbuck, public information manager at Glenwood Springs said Friday. “We believe discussions are continuing between Frank Woods and potential buyers, and the city hopes to work with a partner to redevelop the Glenwood Mall.”