An affiliate of Kroger has acquired a former Lowe’s Home Improvement property in Louisville, with plans to redevelop the site into a new King Soopers grocery store. The property, located at 1171 Dillon St. in a city northwest of Denver, traded for $22.6 million. The site occupies a prominent position at the northwest corner of the intersection of Highway 36 and McCaslin Boulevard.
According to reporting cited from the Denver Business Journal, the seller, DRA Advisors, had purchased the same property for more than $13 million in 2024. The resale less than two years later to a Kroger affiliate reflects continued investor interest in grocery-anchored retail locations in the broader Denver area.
King Soopers plans to introduce one of its Marketplace-format stores at the Louisville site. The grocer has outlined a 122,000-square-foot store that will include pickup and delivery services, a drive-thru pharmacy and a fuel center. While additional development details were not disclosed, the new concept is positioned to replace the former home improvement use with a full-service grocery operation.
The corner of Highway 36 and McCaslin Boulevard is a well-trafficked node northwest of Denver, and the conversion of a former big-box home improvement store into a large-format grocery store underscores how existing retail footprints are being repositioned to meet current demand patterns. No construction timeline, opening date or project budget beyond the purchase price was provided in the report.
In a separate but related expansion move, another King Soopers store is expected to open soon elsewhere in the Denver-metro area. Lone Tree Village, located within the RidgeGate mixed-use planned community, is slated to be anchored by a 123,000-square-foot King Soopers with a fuel center. The report did not disclose transaction details or development costs for that location, but the project further illustrates the chain’s continued growth in the region.
Together, the Louisville acquisition and the planned Lone Tree Village opening highlight ongoing grocery investment and expansion activity around Denver, particularly for large-format, full-service grocery stores with integrated fuel and pharmacy offerings. Specific leasing, financing and ownership structures beyond the named buyer and seller for the Louisville transaction were not detailed in the available information.
