Final Asset Trades in Eight-Property Mixed-Use Portfolio in Aurora
DENVER – The final asset in the Southlands High Visibility Portfolio, a 9,420-square-foot retail center in Aurora, has traded.
Transwestern’s Brad Cohen and Larry Thiel represented the seller, BLC-II LLC, in the disposition of the eight-property mixed-use portfolio totaling 67,805 square feet at 24272 E. Prospect Ave, developed by Alberta Development.
The buyer is Baljeet Kaur Dhanoa and the price for the final asset was $2,460,000. The entire portfolio traded for $27,269,000.
“We executed a disposition strategy for the portfolio that included eight niche investment opportunities, appealing to various investment objectives,” said Thiel, Transwestern managing director. “This scenario allowed us to target a larger investor pool, leverage greater demand and, ultimately, achieve premium pricing for our client.”
Built in 2005, the Southlands High Visibility District features a strong line-up of 25 nationally accredited tenants and is positioned at the entrance of one of the most vibrant shopping and entertainment destinations in the Denver metro. The portfolio totals 67,805 square feet and comprises four retail units and four corporate ground leases featuring prominent national tenants including Mattress Firm, Cold Stone Creamery, Five Guys, MAD Greens, Jimmy John’s, P.F. Chang’s, Chili’s Grill & Bar, On the Border Mexican Grill & Cantina and Village Inn.
Photo courtesy of Transwestern