JLL Capital Markets announced today the $41.15 million sale and $27.268 million financing of Stanley Marketplace, a 102,125-square-foot adaptive reuse marketplace located at 2501 Dallas St. in Aurora.
JLL represented the seller, Westfield Company Inc., in the transaction. Magnetic Capital acquired the asset and was assisted by JLL in securing a five-year acquisition loan through a regional bank.
Originally constructed in 1954 as an ejection seat manufacturing facility and meticulously redeveloped, the landmark marketplace spans a 19.5-acre site. Today, the property is 98% occupied by 54 tenants, boasting a curated, highly stable mix of local businesses, entrepreneurs and popular dining and entertainment destinations such as Denver Biscuit Co., Rosenberg’s Bagels & Delicatessen, Local Drive and Bounce Gymnastics. The center has been widely recognized as a major economic catalyst for the surrounding area, helping drive a residential resurgence that includes the adjacent 168-unit Stanley House apartment community.
Located in a high-density, affluent pocket of the Denver metropolitan area, Stanley Marketplace is seven miles from downtown Denver and 14 miles from Denver International Airport. The asset serves the master-planned Central Park neighborhood and sits just three miles from the expanding Fitzsimons Medical Campus, a massive employment hub with thousands of healthcare and bioscience workers.
The JLL Capital Markets team was led by Managing Director Jason Schmidt and Senior Director Austin Snedden. JLL’s Debt Advisory team was led by Senior Managing Director Leon McBroom and Senior Director William Haass.
“Stanley Marketplace presented a rare opportunity to acquire an asset with deep community roots, a well curated tenant mix, and highly affluent surrounding demographics,” Schmidt said. “The upcoming park enhancements along Westerly Creek add further momentum to an already strong location.”
