Centennial, Colo. — Copper2 LLC has sold Southgate Shopping Center, a neighborhood shopping center located in Centennial, a suburb of Denver. Arapahoe RHSW LLC acquired the property for $7.7 million. The property, which was 83 percent leased at the time of sale, comprises 30,024 square feet of retail space across two buildings. Jon Hendrickson, Aaron Johnson and Mitch Veremeychik of Cushman & Wakefield represented the seller in the disposition.
Highlands Ranch, Colo. — Marcus & Millichap’s Institutional Property Advisors (IPA) has brokered the $26.7 million sale of Promenade at Highlands Ranch, a 136,521-square-foot shopping center located in Highlands Ranch, roughly 20 miles outside Denver. Ryan Bowlby and Drew Isaac of IPA represented the California-based seller in the transaction. JCR Cos. acquired the center.
Thornton, Colo. — Faris Lee Investments has brokered the sale of Thornton Town Center, a 265,181-square-foot retail center located in Thornton, a suburb north of Denver. A Southern California-based private investor sold the property to a Southern California-based value-add investor for $14.4 million. Don MacLellan of Faris Lee Investments represented the seller and procured the buyer in the deal.
Thornton, Colo. —TM Crowley & Associates has partnered with NLG Capital Management (NLGCM), a division of The Net Lease Group, to develop The Highlands at Thornton, a 23-acre mixed-use property in Thornton. Upon completion, the project will feature more than 101,925 square feet of retail, commercial and medical office space. CVS Caremark will anchor the development. Lisa Vela and Jay Landt of Colliers will manage leasing at the property.
Houston — Houston-based Partners Real Estate has arranged the sale of three JCPenney-occupied retail properties totaling 302,161 square feet. The stores are located in Newnan, Georgia; Kissimmee, Florida; and Aurora, Colorado. Dimitri Jordan of Partners represented the buyer in the transaction.
Colorado Springs, Colo. — M & J Wilkow and MetLife Investment Management have acquired Chapel Hills East in Colorado Springs, marking the fifth joint venture for the companies. Whole Foods Market anchors the retail center, which totals 225,000 square feet. Other tenants at the property, which was fully leased at the time of sale, include Nordstrom Rack, Best Buy, DSW, Old Navy, Barnes & Noble and Office Depot. The center was developed in 1995 and 1996.
Aurora, Colo. — Pinnacle Real Estate Advisors has negotiated the sale of Plaza West at Aurora Town Center, a 94,949-square-foot retail center situated on 7.8 acres in the Denver suburb of Aurora. A Colorado-based investment group acquired the property for $8 million. Dollar Tree and Harbor Freight Tools anchor the center, which was built in 1985 and was 65 percent occupied at the time of sale. The property also includes a freestanding drive-thru building built in 2021 and occupied by Starbucks Coffee. Justin Krieger of Pinnacle Real Estate Advisors arranged the …
Fountain Colo. — CBRE has arranged the $12.9 million acquisition of The Shops at Mesa Ridge, a retail property located in Fountain, a suburb of Colorado Springs. Built in 2001, the retail center features two multi-tenant buildings totaling 29,309 square feet. The property was 95.7 percent leased to 16 tenants at the time of sale. Retailers at the center include Pizza Hut, ENT Credit Union and Buffalo Wild Wings. A private investor purchased the asset from an undisclosed seller. Mark Shaffer, Gary Stache, Gerard Poutier and Chris Martin of CBRE Capital …
Pittsburgh — PNC Bank plans to invest approximately $1 billion to open more than 100 new branches and renovate 1,200 existing locations by 2028. Expansion plans call for new locations in key cities such as Austin, Dallas, Denver, Houston, Miami and San Antonio, among others, to establish a coast-to-coast network. According to PNC Bank, the goal of the renovations is to create a better customer experience when conducting transactions or meeting with bankers to discuss financial goals. PNC Bank is a member of The PNC Financial Services Group Inc. (NYSE: PNC), …
Denver and Littleton, Colo. — Sidford Capital has acquired two shopping centers totaling 111,142 square feet in Colorado for $11.2 million. A Southern California-based private investor sold the portfolio, which includes Athmar Park Shopping Center, a 58,204-square-foot neighborhood retail center in Denver, and SouthPark Shopping Center, a 52,938-square-foot property located in Littleton. Family Dollar anchors Athmar Park, which was 77.5 percent occupied at the time of sale. SouthPark was 84.5 percent occupied at the time of sale. Ryan Bowlby and Drew Isaac of Marcus & Millichap represented the seller and procured …
