Colorado-based real estate investment and management firm Gart Properties announced it acquired Canyon View Marketplace, 632 Market Street in Grand Junction.

The 42,783-square-foot shopping center was built in 2007 and is currently 91 percent occupied by tenants such as ULTA, Dollar Tree, Shoe Carnival and T-Mobile. Kohl’s, which is separately owned, was not part of the transaction.

The acquisition marks the inaugural investment of the Gart Stabilized Asset Fund, the company’s new income-focused real estate strategy. Through the Fund, Gart Properties aims to acquire long-term ownership of well-located, stabilized retail assets with strong, diversified tenant rosters. This purchase represents the first close of the Fund, with a second close scheduled for later in 2025.

“Its prime location within Grand Junction’s vibrant retail district, combined with the robust tenant base, made this a compelling opportunity for the launch of our Gart Stabilized Asset Fund,” said Mark Sidell, president of Gart Properties.

Grand Junction’s rapid population growth and economic expansion were key factors in selecting this market for the Fund’s first acquisition. Gart Properties’ relationship with the area dates back to its 2011 purchase of Powderhorn Mountain Resort.