Lakewood’s Belmar buying center dealing with foreclosure, town factors to issues of COVID-19

The Belmar shopping middle, just one of Lakewood’s most outstanding retail developments, is in foreclosure, Jefferson County documents display.

The center’s failing finances, initial claimed by 9News on Tuesday, ended up outlined in a general public see submitted by the Jefferson County Community Trustee’s business office in late Oct. The see showed that the registered house operator, Belmar Business Operator LP, owes $108.8 million on an primary $111 million mortgage.

The credit card debt holders on the house have filed the required paperwork to drive a sale underneath the phrases of the deed, the Oct. 26 trustee’s recognize suggests. A public auction day was set for Feb. 25, according to the community trustee.

Belmar opened in 2004, an open-air shopping district intended to serve as a defacto downtown for Lakewood. It took the spot of a defunct retail centre, the previous Villa Italia shopping mall at the southeast corner of South Wadsworth Boulevard and West Alameda Avenue.

Currently, the center’s website states a lot more than 80 neighborhood and national organizations lease room on the campus, bringing purchasing, dining and leisure selections to the west aspect of the metro place. Big tenants contain Focus on, Total Foods Market place and a Century Theatres movie theater.