Announcing New Anchor Grocery Tenant on East Side of Lone Tree Community
Future King Soopers will Serve Thousands of Existing and Future Residents of Douglas County and RidgeGate
(Lone Tree, Colo.) – June 6, 2022 – The RidgeGate community in Lone Tree, Colorado, announced today that it is partnering with Regency Centers to build a grocery anchored center at the new RidgeGate Parkway Couplet District on RidgeGate’s east side. Kroger has recently approved the project and will build an 123,000 square foot Signature King Soopers store and Fuel Center on the site.
“As the east side of RidgeGate continues to take shape, this announcement is particularly exciting because a new King Soopers will create an important neighborhood center supporting RidgeGate’s growth and adding to the overall community,” said Keith Simon, Executive Vice President and Director of Development for Coventry Development Corporation, the master developer for RidgeGate. “It is a key element in RidgeGate’s momentum to create a complete community on the east side of I-25.”
A grocery store tenant has long been a priority for the master plan — made possible by the recent expansion of RidgeGate Parkway and the construction and future planning of several residential offerings in the area. The project will also include approximately 27,000 square feet of accompanying retail space for which there is already strong tenant interest. Initial entitlements are likely to begin later this year with construction beginning in 2023 and a target store opening in 2024. Crosbie Real Estate Group is representing King Soopers in the transaction.
“We are excited to be part of the RidgeGate community and look forward to serving the residents of Douglas County at this new location; offering fresh, affordable and delicious food in a one-stop shopping location,” said Jessica Trowbridge, King Soopers Corporate Affairs Leader.
RidgeGate is continuing to grow and evolve — residential neighborhoods are being built near the thousands of acres of natural open space, parks and trails, making it easy for people to enjoy the outdoors. The west side is nearly complete and is home to over 6,000 residents and 10,000 new jobs. On the east side of the community three residential projects are approved and under construction resulting in over 2,500 new homes upon completion. RidgeGate continued the construction of over $50 million in public infrastructure work during the pandemic, keeping workers employed and staying on track with pre-development infrastructure.
“This King Soopers has a great location on a busy roadway connecting residents in Parker and unincorporated Douglas County with I-25,” said Simon. “The area is also surrounded by all of the new homes coming to RidgeGate including Shea’s Lyric community which is sure to entice other retail tenants to the area.”