Rampart Village is a 100,000-square-foot retail center located in the heart of Colorado Springs’ Briargate neighborhood at the prominent intersection of Union Boulevard and Briargate Boulevard. Originally developed in 1986 as a Safeway-anchored center, the property had long been a key retail hub in the area. For nearly a decade, Gold’s Gym served as the anchor tenant—until its bankruptcy during the pandemic left a major vacancy that significantly impacted leasing activity and suppressed in-line rental rates.

Westward Properties was engaged in fall 2024 to reposition the asset and restore momentum. Leveraging our deep broker network and strategic marketing efforts, we identified and secured a lease with VASA Fitness—a fast-growing, well-capitalized regional gym operator. Within two months, we successfully negotiated a 15-year lease for the entire anchor space, with VASA set to open in late summer 2025. This transformative lease not only added an estimated $8 million in sale value to the property, but also catalyzed a wave of renewed interest from national credit tenants seeking co-tenancy with the new anchor.

In addition, we were able to increase in-line retail rents as leasing velocity improved, further driving long-term value for ownership. After years of instability, the center is now fully stabilized and well-positioned for sustained growth.