CBRE announced today that the firm recently completed the $8.6 million sale of The Shops at Green Valley Ranch, a new construction, multi-tenant retail center located at 4906-4998 North Tower Road in Denver. CBRE’s Matthew Henrichs and Brad Lyons represented the seller, Lone Star Partners of Houston, Texas. Seshu Velpuri of The AMR Group represented the buyer, a California-based investment partnership that purchased the property in a sale that closed Feb. 1, 2019.
Built in 2017, The Shops at Green Valley Ranch includes two Class A free-standing retail buildings that total 19,840 sq. ft. on 2.81 acres. The property is fully leased to a mix of 11 national and local retailers including Burger King, Sport Clips, Pizza Hut, Jimmy John’s, Cold Stone Creamery, David Nails & Spa and GVR Dental and Orthodontics. It is also adjacent to a high-performing King Soopers grocery store. The property sits along Tower Road with storefront and signage exposure to more than 18,700 vehicles per day, while being a five-minute drive from the new Gaylord hotel and convention center.
“There continues to be a trend toward investment in high-quality, street-front retail assets, especially those tenanted by service and food-based retailers perceived to be less impacted by the e-commerce effect,” said Matthew Henrichs, Senior Vice President with CBRE Capital Markets, National Retail Partners, in Denver. “In Colorado in particular we are seeing strong interest from out-of-market investors due to our region’s strong population and job growth and relative proximity to core coastal markets.”
The Shops at Green Valley Ranch is located at the intersection of Tower Road and Green Valley Ranch Boulevard, just east of Pena Boulevard and south of East 56th Avenue. The buyer purchased the site as a cash flow vehicle to diversify a personal wealth portfolio.
