JLL Capital Markets has arranged the sale of Parkside Collective, a newly constructed 24,985-square-foot three-building retail strip center in Aurora.
JLL represented the seller, Parkside Aurora, LLC. The buyer was a partnership of Spark & Halo, Two Arrows Group and OlivePoint Capital.
Parkside Collective is strategically positioned in one of Aurora’s premier retail locations with excellent visibility and accessibility, seeing over 64,000 vehicles per day. Constructed in 2021, the property is 86% leased with a strong weighted average lease term of 4.7 years and features an impressive tenant roster including national and local brands such as Five Guys, Cheba Hut and Einstein Bros. Bagels.
The retail center is part of a larger mixed-use development that includes a 216-unit Class-A apartment complex and is located directly across from Town Center at Aurora shopping mall. The property benefits from its proximity to major employers including Fitzsimons Medical District, Buckley Space Force Base and Aurora Municipal Center, with over 11,000 jobs within just a half-mile radius.
JLL Capital Market’s Investment Sales and Advisory team was led by Managing Director Jason Schmidt and Director Austin Snedden.
“Parkside Collective represented a rare opportunity to acquire a newly constructed retail asset with a diverse mix of food, entertainment and service tenants in Aurora’s growing retail corridor,” said Schmidt. “The property’s strong location near major employment centers and its transit-oriented development position made it an attractive investment opportunity.”
“With Aurora experiencing significant multifamily expansion and retail rent growth of nearly 25% over the past five years, Parkside Collective is well-positioned to benefit from the area’s continued economic growth,” added Snedden.
