by Jenna Walters
FRONT RANGE – Blue West Capital brokered the sale of three retail properties across the Front Range.
Tom Ethington represented California-based seller LoHi Plaza LLC in the sale of the 13,975-square-foot, multitenant shopping center at 2986 and 2990 N. Speer Blvd. in Denver. According to public records, AB RE Holdings LLC acquired the property for $7.4 million. The 2005-built center was 100% leased at the time of sale to a mix of regional and national tenants, including AutoZone, Chase Bank, Subway and Bad Ass Coffee of Hawaii. The property’s stable tenancy and high-visibility location on a hard corner attracted many prospective buyers, Ethington noted. He said the asset received eight qualified offers before trading at ideal pricing for the seller.
Ethington also brokered the sale of the 42,755-sf retail property at 10750 W. Colfax Ave. in Lakewood. The 1996-built property traded between two undisclosed investors for $5.76 million. At closing, the asset was 100% leased to multiple tenants including Harbor Freight Tools, JoAnn Fabric and Guitar Center. “Through a broad but targeted marketing campaign, we were able to find a California buyer looking for current cash flow along with longterm development potential,” Ethington commented on the sale. “The shopping center’s current tenants, lot size and proximity to Oak Street light-rail station were a great fit for the buyer.”
Additionally, Brandon Gayeski and Robert Edwards brokered the sale of the newly constructed 7-Eleven property at 641 14th St. in Fort Lupton. The property traded between a national developer and an East Coastbased private investor for an undisclosed price. The 4,650-sf property opened in October and features a long-term net lease, corporately guaranteed by 7-Eleven. The property also features a Laredo Taco restaurant and 20 pumping stations. According to Gayeski, the property generated numerous offers before selling at full listing price.