Denver, CO – [December 22, 2021] – Blue West Capital has completed the sale of a multi-tenant retail shopping center located at 2986 & 2990 North Speer Boulevard in Denver, CO. Tom Ethington, of Blue West Capital, represented the seller in the transaction, a private real estate company and a repeat client based out of California. The buyer was a Colorado-based investor.
LoHi Plaza consists of 13,975 square feet and is 100% leased to regionally and nationally recognized tenants, including AutoZone, Chase Bank, Subway, and Bad Ass Coffee of Hawaii. The property is located on the northeast hard corner at the intersection of Federal Boulevard and North Speer Boulevard, offering excellent visibility with over 62,000 vehicles per day crossing the intersection. The surrounding area has a population of 479,759 with an average household income of $92,690.
“Per CoStar, Denver retail investment activity keeps improving with trailing 12-month investment volume totaling $1.5 billion, high above the 10-year annual average of $1.2 billion,” explained Ethington. “Investors continue to focus on quality and location as they did with LoHi Plaza, evident in the eight qualified offers we received during the early stages of marketing that created more value for the seller and ideal pricing for the property.”