Neighborhood Shopping Center in Aurora Sells for $19.7M
DENVER – Summer Valley Shopping Center, a 95,669-square-foot neighborhood shopping center in Aurora, has sold for $19,700,000.
Jon D. Hendrickson and Aaron D. Johnson, managing directors in the Capital Markets Group with Cushman & Wakefield’s Denver office, had the exclusive listing to sell the property on behalf of LG Summer Valley Owner, LLC.
“The current strength of retail was highlighted at Summer Valley Shopping Center,” said Hendrickson. “The center has a fitness anchor driving significant traffic and is complimented by restaurant and service based businesses. The fundamentals of access, visibility, daily traffic counts, population density and income demographics were all strengths of the offering.”
The property was purchased by a private partnership executing a 1031 exchange. The seller was able to execute a value add strategy, while the buyer now owns a stable long-term investment. Summer Valley Shopping Center was 100% leased at the time of sale to a diverse tenant mix, the largest of which were Dollar Tree and Vasa Fitness.
Image courtesy of Cushman & Wakefield