The centre opened in 1938 and presently occupies nearly an entire block in the historic Vecrīga neighborhood.

[3] The centre in its earliest form was the Armijas ekonomiskais veikals (Army Economy Store), founded in 1919.

[1] In order to accommodate expansion of the Army Economy Store, work started on 26 September 1936 to construct a new building.

[4] The centre underwent major reconstruction in 2006[2][5] that included the addition of a glass roof over Rīdzenes street.

[6] In June 2019, Galerija Centrs was sold by Linstow Center Management to Baltic Horizon Fund for 75 million euros.