DENVER, CO – [May 2, 2022] –Blue West Capital has completed the sale of the Park Hill Shops, a three-tenant retail property located at 2245 Kearney Street, Denver, CO for $3,453,000. This is the second retail property sold by Blue West Capital in Park Hill neighborhood within the past 12 months.
Robert Edwards and Tom Ethington exclusively represented the seller in the transaction; a Colorado based real estate investment company. The buyer was a local 1031 exchange investor who grew up in the Park Hill neighborhood.
Park Hill Shops is 9,160 square foot retail property located in Park Hill, Denver’s oldest neighborhood. The seller successfully leased the building to Park Hill Dance Academy, Lodestone Strength, and Lucina’s. All three tenants cater to the neighborhood’s desirable demographics. The median age in South Park Hill is forty years old. Kids under eighteen account for over 20% of the residents. The average household income is $124,153 and the majority of area households are comprised of families.
“We have been advising the seller throughout their renovation and re-tenanting of the property for the past 7 years. It has been a fascinating project to watch as the dusty vacant movie theater built in the 1950s transformed into a vibrant gathering place for Park Hill and surrounding neighborhoods. Investor demand for this listing was incredibly high. Denver remains a red-hot seller’s market as investors seek properties with strong real estate fundamentals,” said Robert Edwards, Managing Partner.