Pier 1 leaving Meadows, cosmetics store to open
Pier 1 Imports is on its way out of the Glenwood Meadows come next month. But leasing managers for Glenwood Springs’ largest shopping center have already lined up cosmetics retailer Ulta Beauty to fill the space, according to one property representative.
Melissa Simon, media relations specialist for Fort Worth, Texas-based Pier 1, confirmed Wednesday that the local store will officially close next month. The store has been advertising pre-closing clearance sales since late December.
Pier 1, a home furnishings, decor and accessories chain specializing in imported products from around the world, has had a presence at Glenwood Meadows since it first opened in the mid-2000s.
“As a matter of practice, we do everything we can to support our associates during this time of transition,” Simon said of the decision to close the store.
“Pier 1 Imports continually reviews new and existing store locations to make sure we’re operating as efficiently as possible,” she said in a prepared statement. “Where necessary, based on that review, we make the strategic business decision to close certain locations on a case-by-case basis.”
The next nearest Pier 1 location is in Avon at the Beaver Creek Place. Customers can also continue for find Pier 1 products online, Simon noted.
Meanwhile, Mike Maple, chief operating officer for the Aspen-based Dunrene Group, which developed the Meadows, confirmed that Ulta Beauty will be moving into the Pier 1 space later this spring.
Leasing agent Steve Shoflick of Miller Real Estate in Denver could not be reached for further details of the arrangement.
In other Glenwood Meadows news, it was also announced this week that NorthMarq Capital has arranged a $28 million refinance for the 145,000-square-foot shopping center.
“It’s a pretty straightforward shopping center refinancing,” Maple said. “We opened in 2005 with a 10-year loan, and we’re at the end of that so it was time to refinance.”
Large-format retailers Target and Lowe’s anchor the Meadows, but are not part of the collateral used to secure the loan, according to a Jan. 25 article that appeared at RebusinessOnline.com
Other Meadows tenants include Petco, Sports Authority, Vitamin Cottage and Bed Bath & Beyond.
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