DENVER, CO – [July 23, 2024] – Blue West Capital has successfully arranged the sale of Highlands Garden Village, a transit-oriented retail investment property anchored by Sprouts and 24 Hour Fitness. Located on the former site of Elitch Gardens amusement park in Denver, Colorado, the properties at 4450-4700 West 38th Avenue were sold for $26,900,000.
Robert Edwards and Tom Ethington of Blue West Capital represented both the buyer and seller in the transaction. The buyer, TRC Retail, is a privately held retail real estate operating company based in Southern California. The seller, HGV Commercial, LLC, originally developed the properties.
Highlands Garden Village, fully occupied, spans 75,000 square feet across five buildings and 17 suites. The center's key attractions include the highest-performing Sprouts in the United States and a vibrant two-story 24 Hour Fitness. The diverse tenant mix features national retailers, medical groups, and local service providers.
Positioned at the southwest corner of the bustling Tennyson Street and 38th Avenue, the property features the closest 24 Hour Fitness and Sprouts to Downtown Denver. The marketing process quickly attracted offers from across the country, reflecting strong investor confidence in the central Denver market and the continued growth and evolution of the Tennyson Street area.
Robert Edwards, Managing Partner
Built in 2006 and 2007, Highlands Garden Village is an early example of extensive green building techniques. All buildings incorporate recycled materials, LOW-VOC products, and energy-efficient windows. The neighborhood’s roadbeds were constructed using concrete recycled on-site from the amusement park's demolition. The landscaping features water-conserving native plants, and efforts were made to preserve many existing trees. The historic carousel building was converted into an outdoor pavilion with a contemplative labyrinth. All community buildings are powered by alternative energy sources. Notably, the Sprouts building was designated as the first LEED core and shell Gold Supermarket in the United States.
PR Contact
Robert Edwards
(720) 966-1630
Robert@BlueWestCapital.com
Be the first to know about new investment properties.
Subscribe to our mailing list
