The acquisition is United’s second property in Colorado and the 11th in its expanding nationwide portfolio.
Randy Cloud, a member of the family that has held ownership stakes in the flea market for more than 40 years, will continue to serve as general manager of the Colorado Springs market.
“The Colorado Springs Flea Market has been a big part of our family since its inception,” Cloud stated in a news release issued by United Flea Markets. “And while the decision to move on is not one we took lightly, we have the utmost confidence in the United Flea Markets’ team, the vision they hold for the market’s continued growth and the role it plays within the community.”
Cloud’s father, Donald Cloud, was a minority owner of the market, which was founded in 1978. In its early years, it was located at the former Rocky Mountain Greyhound Park on North Nevada Avenue.
Donald Cloud obtained majority ownership of the market in the early 1990s. A few years later, the market moved to a paved, 30-acre site at 5225 E. Platte Ave.
Since then, the flea market has grown to become the largest garage sale-type operation in Southern Colorado. Open Saturdays and Sundays all year, it features some 500 seller booths, food vendors, live music and entertainment, and carnival rides for children.
United Flea Markets was founded in Denver in 2009 with its first acquisition, Mile High Flea Market, and now owns 11 properties in seven states across the country. According to the release, Its robust growth reflects the growing $30 billion industry that encompasses about 1,100 flea markets nationwide.
Rob Sieban, president, CEO and co-owner of United Flea Markets, said the addition of Colorado Springs Flea Market is an important and exciting acquisition for the company’s long-term growth strategy.
“We’re very strategic throughout our acquisition process,” Sieban said, “seeking out properties with strong community ties, a sound operational history and a strong fit with the other markets in our portfolio.
“Colorado Springs Flea Market is a beloved community institution with a notable 41-year history and a nearby neighbor to our flea market in Henderson. We’re honored that the Cloud family has entrusted us to take the reins and build on their strong foundation.”
As part of the transition, United Flea Markets plans to add enhanced WiFi throughout the flea market, new rides, and other technology and marketing improvements.