Littleton, CO – [October 28, 2021] – Blue West Capital has completed the sale of a multi-tenant neighborhood retail center located at 4760 W Mineral Avenue in Littleton, CO. Robert Edwards and Carly Kelly, of Blue West Capital, represented the seller and buyer in the transaction. The seller was a private real estate investor, and a repeat client, based out of San Francisco. The buyer was a Texas-based private real estate investment company, also a repeat client.
Mineral Shops consists of 9,910 square feet and is 100% leased to national and local tenants including Dunkin’ Donuts (drive-thru), Rita B Salon, Blush Nail Salon, King Liquor, and Columbine Dentistry. The property is located just 11 miles south of Downtown Denver in Littleton, which is an affluent, dense, and growing suburban community of Denver. Mineral Shops offers excellent visibility and accessibility, as it is located directly off Mineral Avenue (30,000+ VPD), which is one of the main east-west thoroughfares in the southern Denver suburbs. Within a one-mile radius, average household incomes are over $140,000 and the population exceeds 77,000 within a three-mile radius.
“We were able to procure this transaction off market by connecting two repeat clients, while achieving optimal pricing for the seller. As interest in stabilized neighborhood retail centers continue to garner more demand across the country, investors are aggressively seeking these types of centers in growth markets. The Denver MSA continues to be one of the most highly sought-after investment markets,” stated Carly Kelly, Director.
“This is the second time we have sold the Mineral Shops. In 2015, we represented both the developer and the San Francisco based buyer. Over the years, it has been rewarding to help our client increase the center’s value and beat his initial IRR hurdle rate. We believe the new landlord is in a similar position to reap the property’s advantages for years to come,” stated Robert Edwards, Managing Partner.
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