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Marcus & Millichap Brokers $13.3 Million Sale of Durango Town Center in Colorado

by Alex Tostado

Durango, Colo. — Marcus & Millichap has arranged the sale of Durango Town Center, a retail shopping center located in Durango. A private partnership led by David Spriggs of Denver-based DMS Real Estate sold the asset to a private local investor for $13.3 million. Ryan Bowlby and Drew Isaac of Marcus & Millichap represented the seller, while Brian Hagger, also of Marcus & Millichap, represented the buyer. Phillip Gause of Marcus & Millichap Capital Corp. placed financing on behalf of the buyer. Located at 1125, 1145 and 1185 S. Camino …

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ColoradoCompany newsNews

Baceline Investments Offers Resources, Individual Guidance for Small Business Tenants

by Alex Tostado

Denver — As retailers continue to face uncertain times during the COVID-19 pandemic, Denver-based Baceline Investments has shifted its focus to providing support and creating tools, resources and personal guidance for the small businesses of its 73 neighborhood shopping centers under management nationwide. The boutique private equity real estate investment and management company’s national portfolio currently includes 900 small business tenants. “We’ve taken an all-hands-on-deck approach to supporting our small business partners,” says Todd Laurie, partner and executive vice president of fund services for Baceline. “We’ve mobilized our company into …

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ColoradoFinanceGrocery-anchoredNewsRetailers

JLL Arranges $26.7 Million Refinancing for Alcove on Arapahoe Shopping Center in Boulder, Colorado

by Alex Tostado

Boulder, Colo. — JLL Capital Markets has secured $26.7 million in refinancing for Alcove on Arapahoe, a community shopping center in Boulder. The firm placed the 10-year, fixed-rate loan with Nationwide for the borrower, an existing co-investment partnership that Regency Centers manages. Built in 1957 and renovated in 2019, Alcove on Arapahoe offers 159,050 square feet of retail space. Tenants include Safeway, HomeGoods, Verizon Wireless and Flower Child. Tarik Bateh, Kristian Lichtenfels and Jennifer Swanson of JLL Capital Markets arranged the financing for the borrower.

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ColoradoGrocery-anchoredInvestment salesNewsRetailers

Marcus & Millichap Arranges $6.8 Million Sale of Natural Grocers-Occupied Retail Asset in Denver

by Alex Tostado

Denver — Marcus & Millichap has arranged the sale of a retail property located at 18471 Green Valley Ranch Blvd. in Denver. The newly constructed building traded for $6.8 million, setting a nationwide pricing record for a fee-simple Natural Grocers store, according to Marcus & Millichap. Cory Gross of Marcus & Millichap’s Denver office represented the undisclosed buyer and undisclosed seller in the deal. Natural Grocers occupies the 13,000-square-foot property on a 15-year triple-net lease basis. The organic and natural foods grocery store is set to open in the coming …

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ColoradoCompany newsNewsRestaurants

Ziggi’s Coffee Plans 16 New Locations in 2020

by Alex Tostado

Longmont, Colo. — Ziggi’s Coffee, with 21 café/drive-thrus across Colorado, Oklahoma and Arizona, plans to open in Pennsylvania, Iowa, Oregon and California — with 16 expected to open in 2020 — as it continues its expansion into new markets. Husband-and-wife-duo Brandon and Camrin Knudsen started the chain on Main Street and 4th Avenue in Longmont in August 2004. Ziggi’s has signed 43 franchisee agreements in seven states, according to Brandon.

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CaliforniaColoradoContent PartnersFaris Lee InvestmentsInvestment salesNewsRetailers

Faris Lee Brokers Sales of Two Retail Assets in Southern California, Colorado Springs Totaling $26.1 Million

by Alex Tostado

Orange County, Calif. and Colorado Springs, Colo. — Faris Lee Investments has arranged the sales of two retail properties located in Southern California and Colorado Springs totaling $26.1 million. In the first deal, an undisclosed seller divested of Brea Center, a grocery-anchored shopping center in Orange County. An undisclosed buyer acquired the asset for $17.6 million. Current tenants include Vons, Bank of America, Pet Wants, Aulestics and Painted Nest. Don MacLellan, Rick Chichester and Jeremy Warren of Faris Lee Investments represented the seller in the transaction. In the second deal, …

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ColoradoGrocery-anchoredInvestment salesNewsRetailers

Boulder Group Negotiates $14.7 Million Sale of Net-Leased Safeway in Metro Denver

by Alex Tostado

Lone Tree, Colo. — The Boulder Group has negotiated the $14.7 million sale of a single-tenant property net leased to Safeway in Lone Tree. The 55,650-square-foot building is located at 9229 Lincoln Ave. along Interstate 25, 17 miles south of downtown Denver. Thee undisclosed buyer is completing a 1031 exchange while the undisclosed seller is a private REIT. Randy Blankstein and Jimmy Goodman of The Boulder Group represented both the buyer and seller in the transaction. Albertsons Co. guarantees Safeway’s lease.

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ColoradoInvestment salesNewsRetailers

CBRE Brokers $4.1 Million Sale of E Shops at Mesa Ridge in Fountain, Colorado

by Alex Tostado

Fountain, Colo. — CBRE has arranged the sale of E Shops at Mesa Ridge, a retail center located at 6825 Mesa Ridge Parkway in Fountain. A Los Angeles-based private real estate fund sold the asset to a private discretionary investor for $4.1 million. Built in 2013, the 9,380-square-foot property features five tenant spaces. At the time of sale, the property was fully occupied by Noodles & Co., Sprint, Jersey Mike’s, Sports Clips and H&R Block. Parker Brown, Matthew Henrichs and Brad Lyons of CBRE Capital Markets, National Retail Partners, represented …

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ColoradoInvestment salesNewsRetailers

Marcus & Millichap Brokers $9.2 Million Purchase of Country Club Village Retail Property in Metro Denver

by Alex Tostado

Westminster, Colo. — Marcus & Millichap has brokered the sale of Country Club Village, a retail asset located at 2721 and 2821-2851 W. 120th Ave. in Westminster. A California-based private investor acquired the asset for $9.2 million. Tenants at the 33,091-square-foot property include Caribou Coffee Co., TCBY Yogurt, Ana’s Mexican Restaurant, Hana Matsuri Sushi and Gillett Veterinary Clinic. Ryan Bowlby of Marcus & Millichap’s Denver office represented the buyer in the deal. Phillip Gause, also of Marcus & Millichap, secured financing for the transaction. The financing features a fixed, long-term …

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ColoradoGrocery-anchoredInvestment salesNewsRetailers

CIM Group Sells University Center Retail Property in Fort Collins for $23.7 Million

by Alex Tostado

Fort Collins, Colo. — CIM Group has completed the sale of University Center, a grocery-anchored retail property located in Fort Collins. An undisclosed buyer acquired the asset for $23.7 million. Built in 1953 and remodeled in 2004, University Center features 68,334 square feet on 6.5 acres. The property is fully leased to two tenants: Whole Foods Market and Wilbur’s Total Beverage. The single-story building is attached to the north end of a larger shopping center. Brad Lyons, Mike Winn and Tim Richey of CBRE represented the seller.

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