Metro Moves: Mega King Soopers store to start construction in Frederick

Welcome to the Denver Gazette’s Metro Moves. You’ll get the latest metro Denver openings, closings, hiring and promotion news here. To submit your company’s news, drop an email to bernadette.berdychowski@denvergazette.com.

Mega grocery store coming to Carbon Valley

A new Kings Soopers Marketplace store is coming to a small town north of Denver, Frederick.

The grocery store announced it will start construction on the new store at the intersection of William Bailey Avenue and 14th Street Thursday.

It will be the Kroger company’s 155th King Soopers and City Market location.

The Marketplace store format is much larger than the average King Soopers store. The Frederick store will span 122,000 square feet and have extra amenities like Murray’s Cheese, Starbucks, sushi and much more than grocery store items such as apparel, household goods, dinnerware and small appliances.

It will be the largest grocery store in the Carbon Valley — the economic sub-region including Frederick, Firestone and Dacono — once opened. It’s expected to bring about 300 jobs, according to the city.

The grocery store will be part of the new shopping center development Silverstone Marketplace located within the Silverstone master-planned community.

In addition to the king-sized grocery store, the development will also have about 75,000 square feet of space for more retail or restaurants. It’s being built by Evergreen Development.

The store is expected to open in spring 2025.

California real estate firm buys downtown office tower

An office building in downtown Denver has a new owner.

Southern California real estate firm Cress Capital announced it bought the building on 410 17th Street earlier this month with Denver-based E2M Ventures.

The 24-story building has about 440,000 square feet of office space and experienced a major renovation in 2021. The sale also includes a detached eight-story parking garage. The building also has a fitness center, conference and training rooms, an outdoor lounge and Little Owl Coffee Bar.

Cress Capital acquired the loan on the building earlier this year and helped the former owner negotiate a deed-in-lieu of foreclosure, where the title of the property goes to the lender if the owner can’t pay the mortgage.

The real estate firm said it targets “out-of-favor” properties with “attractive” values and believes the the U.S. and Denver office markets can recover from the pandemic’s hit.

"This era will offer historic entry points to acquire quality assets that we believe will generate superior risk-adjusted returns," said Cress Managing Partner Ryan Parkin in a news release. "With hundreds of billions of dollars of loan maturities facing office owners, we expect to see significant deal flow and more opportunities like The 410."

Sooper Credit Union rebrands

The financial institution founded by King Soopers employees in 1951 will no longer be called Sooper Credit Union.

The organization announced last week it will change its name to Climb Credit Union starting May 28.

Sooper Credit Union decided to change its name to make it less confusing for consumers to know who’s eligible for membership. The organization currently has about 40,000 members and accepts most Colorado residents.

“After years of strategic planning, the Board of Directors and credit union leadership came to the decision to undergo a name change,” said board chair Adam Williamson in a statement. “I am incredibly proud of the success Sooper Credit Union has achieved in the past 73 years and I am enthusiastic about the future.”

The company went with Climb Credit Union to point to the company’s mission in helping members achieve their financial goals.