Happy Canyon Shopping Center Update

According to the latest court filings surrounding the Happy Canyon Shopping Center, an auction was held for the Happy Canyon Shoppes (the existing stores) on February 22, 2019.  Two bidders submitted bids.  BPI, Inc. and Gart Properties, LLC.  BPI won the auction and is undergoing due diligence on the property.

This auction DID NOT include the former Safeway, AKA Happy Canyon Marketplace.  The sale of that asset was approved on February 26, 2019 as part of a larger sale of multiple assets.  The buying entity is Odyssey Acquisitions III, LLC, which appears to be an entity managed by a Nevada-based real estate investment/development firm.

Bottom line is it would appear that these assets are slowly working their way loose and into new hands.  You may recall that the Denver Post reported (article) in January 2019 that “project partners” indicated that “construction was moving forward” and that a June opening was expected.  I reported (blog post) then that these quotes seemed out of sync with reality….