Realberry Advances $1 Billion Avenue South Mixed-Use Development in Loveland, Colorado

Realberry announced it is advancing construction on the first phase of Avenue South, a $1 billion mixed-use development within the Centerra community in Loveland, Colorado. The first phase includes approximately 203,000 square feet of retail space anchored by Loveland's first Whole Foods Market, with shopping opportunities expected to begin in 2027, the firm said on Oct. 1, 2026.

Realberry's Avenue South: Project Scope and Program

Avenue South, formerly known as Centerra South, is a phased mixed-use district located near the I-25/U.S. 34 interchange in Loveland. Realberry, which is affiliated with McWhinney, is the developer and sponsor. The site covers approximately 140 acres.

Beyond the first-phase retail, the development will introduce restaurants, office space, residential communities and gathering spaces, including a central green and an amphitheater. Earlier project materials described approximately 150,000 square feet of office space and more than 800 residences, including apartments, townhomes and single-family homes. The project is planned for up to 33 retailers.

Realberry said Avenue South reflects its long-term commitment to community development, economic growth and the creation of walkable destinations throughout Northern Colorado.

Whole Foods Market Anchors First Phase

The first phase is anchored by Loveland's first Whole Foods Market, which is targeting an October 2027 opening. Earlier project materials put the store at approximately 37,000 square feet. Other single-story retail buildings are expected to follow the grocery opening.

Earlier materials cited an approximately 170,000-square-foot retail-and-restaurant estimate for the first phase, compared with the current figure of approximately 203,000 square feet of retail.

Capitalization of the Avenue South Development

Avenue South is a development project rather than a completed property sale. Realberry's investment materials report more than $35.6 million in private equity raised and a $14.8 million land contribution for the project. Realberry is seeking capital from eligible accredited investors for the offering, which is part of an expanded investment platform.

Securities for the offering are offered through NCPS, member FINRA/SIPC. The firm noted that investments in private placements are speculative, illiquid and may result in the complete loss of capital.

Loveland Commercial Market Context

Avenue South is designed as an expansion of the established Centerra master-planned community rather than an isolated retail center. Realberry describes the project as adding retail, dining, office space and future homes to an existing high-traffic location. Combining daily-needs shopping with residences, employment, restaurants and public amenities can create built-in demand for retailers, and a grocery anchor can support recurring visits and the leasing appeal of adjacent restaurants and service tenants.

Listing data show an active but relatively fragmented Loveland commercial market. CityFeet reported 83 commercial lease listings, with asking rents averaging approximately $17 per square foot annually across property types, ranging from about $8 to $58 per square foot. The average listed property was approximately 9,153 square feet, meaning Avenue South's 203,000-square-foot first-phase retail program is substantially larger than the typical individual listing.

Loveland office-sale listings showed an average asking price of approximately $216 per square foot and an average cap rate of 6.72%, based on 18 available properties. A separate Loveland retail listing cited a 7.41% cap rate. These are asking-market indicators rather than closed transactions and are not a valuation benchmark for Avenue South.

About Realberry

Realberry reports approximately $3.6 billion in assets under management, 13 million square feet and 70 properties under management, spanning multifamily, hospitality, mixed-use, industrial, retail, medical office and self-storage. The company recently announced the appointment of Casey Gebhard as president, describing the expanded executive structure as supporting growth, strategic execution and capital formation.

Outlook for Avenue South

With first-phase retail construction underway, Whole Foods is targeting an October 2027 opening, and additional single-story retail buildings are expected to follow. The office, residential and public-space components, including the central green and amphitheater, are part of the broader district plan.

Sources

• McWhinney: Realberry's Avenue South Set to Welcome Shoppers in 2027
• Loveland Reporter-Herald: Avenue South retail, Whole Foods 2027