CBRE announced the sale of six small-format retail properties located throughout metro Denver and Colorado Springs, Colo., totaling over $19.0 million.
Brad Lyons, Matthew Henrichs and Parker Brown of CBRE Capital Markets, National Retail Partners, represented the sellers in six individual sales.
“Investors are increasingly targeting high-quality small-format retail assets throughout Colorado that possess irreplaceable real estate fundamentals and offer security of cash flow amid the current environment,” said Mr. Brown, senior associate at CBRE.
Polaris Pointe Courte, a 9,100-square-foot retail property located at 13492 Bass Pro Drive in Colorado Springs, sold to a private investor for $5.1 million in a sale that closed Nov.11, 2020. The seller was a private developer. The multi-tenant retail center was 100 percent leased at the time of purchase to Vanguard Dermatology, Dental Nook, OrangeTheory Fitness and Vitality Bowls.
A private investor acquired Ridgeview Marketplace, a 21,008-square-foot retail center situated at 5980 Stetson Hills Boulevard in Colorado Springs, from an institutional owner for $3.58 million in a sale that closed Dec. 17, 2020. The multi-tenant property was fully leased at the time of sale to Summit Dance Works, Conrad Chiropractic & Wellness, Elements Massage, Strive Physical Therapy, Valor Flooring and Republic of Paws.
A local private investor sold a multi-tenant retail property located at 3890 Quebec Street in Denver to a private 1031 exchange buyer for $3.1 million. The property was 100 percent leased at the time of sale to two tenants, Advanced Urgent Care and Bellco Credit Union. The sale closed Nov. 11, 2020.
Powers Peak Center, a 7,500-square-foot retail strip center situated at 5620 Woodmen Road in Colorado Springs, sold to an out-of-market 1031 exchange investor for $2.73 in a sale that closed Dec. 21, 2020. The seller was a private investor. The property was fully leased at the time of sale to Subway, Cost Cutters, GameStop and Batteries Plus.
A private local investor acquired The Laurel, a 3,700-square-foot single-tenant retail property leased to Elite Body Sculpture, from a local institutional developer for $2.6 million in a sale that closed Dec. 31, 2020. The property is located at 115 Steele Street in Denver.
A 5,896-square-foot, single-tenant retail property leased to Chili’s sold to an undisclosed private investor for $1.9 million. The seller was a local institutional developer. The property, which sold Oct. 10, 2020, is located at 3451 N. Tower Road in Aurora, Colo.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
