DeVargas Center
Retailer / private label
UnclaimedDeVargas Center is an enclosed shopping center in Santa Fe, New Mexico, with a history of department-store, discount-retail, entertainment, and specialty-tenant uses.
Last updated August 25, 2026
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Overview
DeVargas Center is an enclosed shopping center in Santa Fe, New Mexico, named for Diego de Vargas. It is one of two enclosed malls serving the city and functions as a mixed retail and entertainment destination rather than as a standalone consumer-goods brand. The property originally opened as DeVargas Mall in 1973 after being developed by Kentucky businessman Nash Hancock. The building was designed by Santa Fe architect William Lumpkins, giving the center a local architectural connection from its inception. The center’s early history was shaped by department-store and supermarket anchors. Albertsons and Factory 2-U had opened at the site before the formal 1973 opening. In 1975, the established Santa Fe men’s department store Goodman’s moved from the Santa Fe Plaza to the mall. Two years later, Montgomery Ward and JCPenney joined the property as anchor tenants, while United Artists added a two-screen cinema. The retail landscape changed after Villa Linda Mall opened in 1985: JCPenney moved to the southwest side of Santa Fe, and its former space was later associated with C. R. Anthony Co., an upscale department-store operator. The property changed ownership for the first time when it was acquired by Weingarten Realty. During that period, the center received a reported $1 million renovation, including interior improvements and an expansion of its movie theater. The tenant mix continued to evolve in the 1990s. Ross Dress for Less opened a Santa Fe location in 1996, adding a national off-price retailer to the center. Montgomery Ward filed for bankruptcy in 1998 and closed its Santa Fe store; Albertsons acquired the former Montgomery Ward space and announced plans to rebuild it. In 2010, Fidelis Realty Partners purchased the property from Weingarten Realty Management Co., Inc. The center subsequently absorbed some tenants from Sanbusco Marketplace after the New Mexico School for the Arts acquired that nearby property in 2016. That same year, Hastings, another anchor tenant, filed for Chapter 11 bankruptcy and ultimately closed its stores. The entertainment component also contracted when Regal Cinemas closed its six-screen theater in 2017. DeVargas Center has continued to reposition portions of the complex in response to changing retail and leisure patterns. In 2018, the center announced plans to reconstruct its west side and introduce The Alley, described as a lounge and bowling-alley concept. In 2019, T.J. Maxx announced plans for its HomeGoods subsidiary to occupy one of the center’s anchor spaces. In 2022, Sierra Trading Post remodeled the former Hastings location. These changes illustrate the center’s transition from a conventional department-store mall toward a more varied mix of discount retail, home furnishings, specialty tenants, food and beverage, and experiential uses. Its present identity is tied to local accessibility and tenant adaptation within the Santa Fe retail market.
History
DeVargas Center began as DeVargas Mall, an enclosed shopping-center project developed by Kentucky businessman Nash Hancock in Santa Fe, New Mexico. The property formally opened in 1973, although Albertsons and Factory 2-U had already begun operating at the site. Its building was designed by Santa Fe architect William Lumpkins. The center was named after Diego de Vargas, a historical figure associated with Santa Fe. During its first expansion phase, DeVargas Mall attracted established retailers from across the city. Goodman’s, a luxury men’s department store that had operated at the Santa Fe Plaza, relocated to the mall in 1975. In 1977, Montgomery Ward and JCPenney joined as anchor tenants. A United Artists two-screen movie theater also opened, establishing entertainment as part of the property’s offer. Competition increased when Villa Linda Mall opened in 1985. JCPenney moved to the southwest side of town, and the former space was later replaced or occupied by C. R. Anthony Co., an upscale department-store business. The property’s ownership and physical format changed in the following period. Weingarten Realty acquired the center in its first ownership transition and carried out a reported $1 million renovation. The work included improvements to the interior and expansion of the theater. The tenant mix then became increasingly oriented toward national value retail. Ross Dress for Less entered the Santa Fe market at DeVargas in 1996. In 1998, Montgomery Ward filed for bankruptcy and closed its local store. Albertsons purchased the former Montgomery Ward space and announced plans to reconstruct the building, reflecting the continuing importance of large-format anchors even as traditional department stores weakened. Fidelis Realty Partners acquired the property from Weingarten Realty Management Co., Inc. in 2010. The center later benefited from changes elsewhere in Santa Fe’s commercial-property landscape. In 2016, several Sanbusco Marketplace tenants relocated to DeVargas after the New Mexico School for the Arts acquired the Sanbusco property. At the same time, Hastings, which occupied an anchor position, filed for Chapter 11 bankruptcy and subsequently closed its stores. The loss of Hastings continued the long-term pattern of anchor turnover at the center. Entertainment uses also changed. Regal Cinemas closed its six-screen theater in 2017. In response to evolving consumer behavior and vacant-space challenges, the center announced a west-side reconstruction plan in 2018. The proposal included The Alley, described as a lounge and bowling-alley venue, and represented an effort to add experience-based uses alongside conventional retail. In 2019, T.J. Maxx announced plans for its HomeGoods subsidiary to occupy one of the anchor spaces. Sierra Trading Post remodeled the former Hastings location in 2022. The center’s history is therefore characterized by successive cycles of anchor replacement, ownership change, renovation, and diversification. It moved from a department-store-centered model toward a more flexible combination of off-price apparel, home goods, groceries, specialty retail, dining, and leisure concepts. DeVargas Center remains an active enclosed shopping center serving the Santa Fe market.
- 2022
Sierra Trading Post remodels former Hastings location
[1]Sierra Trading Post remodels the former Hastings space.
- 2019
HomeGoods expansion planned
[1]T.J. Maxx announces plans for HomeGoods to occupy an anchor space at DeVargas.
- 2018
West-side redevelopment announced
[1]The center announces reconstruction of its west side, including The Alley lounge and bowling concept.
- 2017
Regal theater closes
[1]The six-screen Regal Cinemas location at the center shuts down.
- 2016
Sanbusco tenants relocate and Hastings enters bankruptcy
[1]Several nearby tenants move to DeVargas, while anchor Hastings files for Chapter 11 and later closes its stores.
- 2010
Fidelis Realty Partners acquires the property
[1]Fidelis Realty Partners purchases DeVargas Center from Weingarten Realty Management Co., Inc.
- 1998
Montgomery Ward closes and Albertsons takes over its space
[1]Montgomery Ward exits following bankruptcy, while Albertsons announces plans to reconstruct the former anchor location.
- 1996
Ross Dress for Less opens
[1]Ross Dress for Less establishes a new-to-market location at the center.
- 1985
JCPenney relocates after Villa Linda Mall opens
[1]JCPenney leaves DeVargas for a new location on the southwest side of Santa Fe.
- 1977
Major anchors and cinema added
[1]Montgomery Ward, JCPenney, and a United Artists two-screen theater join the center.
Products and positioning
A locally established enclosed shopping center serving Santa Fe with a broad, value-oriented tenant mix and periodic redevelopment into entertainment and experiential uses.
Shopping center · 1973
Enclosed retail center
DeVargas Center’s core offering is enclosed shopping-center space serving Santa Fe consumers. Its tenant history includes department stores, supermarkets, off-price apparel, home goods, specialty retail, and services. The center has repeatedly adapted its anchor spaces as national retail formats and local commercial properties changed.
Anchor retail · 1973
Retail anchor spaces
Large-format anchor spaces have historically housed Goodman’s, Montgomery Ward, JCPenney, Albertsons, Hastings, and other major tenants. Their successive replacement has been central to the property’s evolution and has allowed the center to accommodate grocery, discount, apparel, and home-goods formats.
Entertainment and leisure · 2018
The Alley
The Alley was announced as part of a west-side reconstruction plan in 2018. It was described as a lounge and bowling-alley concept intended to add an experiential destination to the shopping center after the closure of its Regal cinema.
Brand decisions
2018
West-side redevelopment and experiential repositioningStrategyBackground
The center faced changing retail conditions and the loss of its cinema and other former anchors.
Action taken
DeVargas Center announced plans to reconstruct the west side and add The Alley, a lounge and bowling-alley concept.
Aftermath
The announcement marked a strategic effort to supplement conventional shopping with leisure and experience-based uses.
2010
Property acquisition by Fidelis Realty PartnersM&ABackground
The shopping center changed ownership after a period under Weingarten Realty management.
Action taken
Fidelis Realty Partners purchased the property from Weingarten Realty Management Co., Inc.
Aftermath
The property continued to undergo tenant changes and redevelopment planning under its new ownership.
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