Parker Retail Center Sells for $5.1MM in Off-Market Deal

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Robinson Ranch, a 20,301 SF Class B retail center located at Parker and Hess has sold for $5,100,000 ($251.22/SF) in an off-market transaction late October.

Patrick McGlinchey, Justin Gregory, and Nick Nickerson of Trevey Commercial Real Estate brokered the transaction. The center was 93.72% leased at time of sale with two vacancies.

Patrick McGlinchey and Justin Gregory had previously operated as the center’s leasing brokers. “As the leasing brokers for the center, we had a very clear understanding of the former ownership’s goals which were no longer aligned with a long-term hold for the asset” stated Justin Gregory of Trevey Commercial.

Patrick McGlinchey and Nick Nickerson had been working with the buyer for several months evaluating various properties. “The buyer was seeking a retail investment property within a short drive-time from her home in Southern Denver. With an already constricted investment market, the drive-time criteria made this a rather tough search” stated Nick Nickerson.

“Thankfully we were able to put two of our clients together at the right time, resulting in a mutually beneficial situation for each. We now have a seller who is freed up to focus on their local (out of state) investments and a buyer who has a great investment property in immediate vicinity of her residence. Through keeping a solid book of active investment clients and, more importantly, having an in-depth understanding of each client’s particular situation, needs, and wants, we are able to put people together to achieve their commercial real estate goals” stated Patrick McGlinchey.

As of mid-November, Patrick McGlinchey and Justin Gregory are proud to announce they have leased the remaining two units in the center following the sale – now providing the new owner with a 100% leased asset.

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