Lakewood, Colo. — Capstone Colorado Land Team has brokered the sale of a 7.65-acre lot at 10785 Colfax Ave. in Lakewood. Artesia Real Estate Investors acquired the land parcel for an undisclosed price. The site includes a former Sears department store and a separate outparcel building that previously operated as a Sears Automotive Center. The two unoccupied buildings comprise a total 163,957 square feet of commercial space. Travis Hodge and Anthony Bobay of Capstone represented the undisclosed seller, while Artesia Real Estate Investors was self-represented in the transaction.
Northglenn, Colo. — JLL Capital Markets has arranged the $28.9 million refinancing of Northglenn Marketplace, a shopping center located in Northglenn, a suburb of Denver. Eric Tupler and Rob Bova of JLL represented the borrower, a joint venture managed by Hutensky Capital Partners, and secured a five-year, floating-rate loan through HTLF. Lowe’s anchors the center, which is also leased to tenants including JOANN Fabric and Crafts, Ross Dress for Less, PetSmart, Woodley’s, Office Depot, Painted Tree Boutiques, dd’s Discounts, Five Below, K&G and Cinzetti’s.
Denver — JLL Capital Markets has arranged the sale of The Shops on Montview, an 8,511-square-foot retail center located in the Central Park neighborhood of Denver. Tenants at the center — which was built in 2020 and was 100 percent leased at the time of sale — include I Heart Mac & Cheese, Pizza Hut, Smile Studio Dental and Starbucks Coffee. Jason Schmidt of JLL represented the seller, Miller United Real Estate LLC, in the transaction.
Longmont, Colo. — An affiliate of Pine Tree, in partnership with Wafra Inc., has purchased Harvest Junction, a 364,000-square-foot retail center located in Longmont, roughly 15 miles outside of Boulder. Barry Brown, Bryan Ley and Jason Schmidt of JLL brokered the $73.8 million transaction. Shadow-anchored by Lowe’s, the retail center features tenants including Best Buy, Dick’s Sporting Goods, Marshalls, Ross Dress for Less, Michael’s, Petco and DSW. This acquisition marks the third for Pine Tree in Colorado.
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Puttshack Raises $150 Million in Growth Capital, Unveils Expansion Plans
Chicago — Chicago-based Puttshack, an indoor mini golf venue, has completed a growth capital round of $150 million from funds managed by BlackRock and continued support from Promethean Investments. The new funding will support Puttshack’s rapid growth strategy across the United States. New venues in Boston and Miami are scheduled to open this fall, followed by one in St. Louis this winter. Additional locations in Dallas, Denver, Houston, Nashville, Philadelphia, Pittsburgh and Scottsdale, plus a second location in Atlanta, are all slated to open in 2023. Additional U.S. locations will …
Colorado Springs, Colo. — Blue West Capital has brokered the sale of a single-tenant, net-leased retail building located at 1358 Republic Drive in Colorado Springs. A private REIT sold the property to a Florida-based investor for $4.4 million. Firestone Complete Auto Care occupies the 6,116-square-foot building, which was constructed in 2021, on a long-term, absolute triple-net lease that includes rental increases every five years. Brandon Gayeski and Zach Wright of Blue West Capital represented the seller in the transaction.
Westminster, Colo. — Plaza Northwest, a 27,405-square-foot retail center located in Westminster, roughly 11 miles northwest of Denver. Jason Schmidt of JLL Capital Markets represented the seller, Centre Point Properties, in the transaction. Park Meadows Real Estate LLC acquired the property, which was 94 percent leased at the time of sale. Tenants include Rocky Mountain Urgent Care, 303 Training Center, Hot Pho, T Love Nails, Empire Fitness, One Main Financial, State Farm, Partners in Health and Connie’s Antiques.
Lakewood, Colo. — Blue West Capital has negotiated the sale of a 1.6-acre redevelopment site at 5991 W. Colfax Ave. in Lakewood. An undisclosed national development acquired the property from a used car dealer for $5.3 million. Located three miles west of downtown Denver, the site was previously used as a used car dealership for 18 years. The seller discontinued operations and vacated the property prior to closing. Brandon Gayeski of Blue West Capital represented the seller, while Carly Kelly (Gallagher) of Blue West Capital, represented the buyer in the deal.
Florida, Colorado and Indiana — Institutional Property Advisors (IPA) has secured $62.4 million in acquisition financing for a six-property portfolio of grocery-anchored retail centers in Florida, Colorado and Indiana. Sunny Sajnani and Todd McNeill of IPA worked on behalf of the borrower, Essential Growth Properties, to place the five-year, fixed-rate, non-resource financing through three separate lenders. The portfolio includes Gainesville Shopping Center in Gainesville, Florida; Cheyenne Meadows Shopping Center in Colorado Springs, Colorado; Woodlands Crossing in Elkhart, Indiana; Plymouth Plaza in Plymouth, Indiana; Crawfordsville Square in Crawfordsville, Indiana; and Auburn Plaza, …
Greeley, Colo. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Centerplace of Greeley. The 152,000-square-foot shopping center is located in the Northern Colorado community of Greeley. Safeway anchors the property, which was occupied by Ross Dress for Less, Famous Footwear, Buckle, Bath & Body Works, Cold Stone Creamery, Bank of America, Sally Beauty, Tokyo Joe’s and Heartland Dental at the time of sale. Ryan Bowlby and Drew Isaac of IPA represented the seller, InvenTrust Properties, and procured the buyer, Slate Grocery REIT, …