DENVER, CO – [March 16, 2023] – Blue West Capital has completed the sale of the multi-tenant retail building located at 2400-2426 East Bridge Street in Brighton, CO for $3,790,000. The property received numerous offers and sold above the asking price.
Robert Edwards, Tom Ethington, and Bryce McNeely, of Blue West Capital, exclusively represented the seller in the transaction. A Denver based real estate investment company and repeat client. The buyer was a local private investor.
The 19,795 square foot retail center is located within the Denver MSA, approximately 38 miles north of Downtown Denver. The property is 100% occupied and anchored by Bomgaars. The surrounding area has strong demographics with an average household income of $102,000 within one mile. Nearby national retailers include Safeway, King Soopers, Walgreens, McDonalds, Bellco Credit Union, Kum & Go, Advance Auto Parts, and many others.
Selling Village Square during the Federal Reserve’s initial rate hikes proved to be an exciting process. Of the handful of offers we quickly procured; most were all cash at full price. The best terms happened to come from a local purchaser with a prequalified credit union loan at a reasonable fixed rate.
Robert Edwards, Managing Partner
Despite higher borrowing costs, demand for risk adjusted retail investments remain steady. This is evidenced by the eight offers we received in the first week of marketing the property which resulted in a sale above the asking price. Village Square Shopping Center features a mixture of local credit tenants with staggered lease expirations and below market rents that position this property for future value-add and continued stabilization.”
Bryce McNeely, Associate
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