Four Colorado shopping centers are part of a $445.5 million sale of a 13-property retail portfolio spanning Colorado, California and Washington.
The Colorado properties include Aspen Grove and Jefferson Marketplace in Littleton, Highpoint Marketplace in Aurora, and Shops at Broadview in Englewood.
JLL Capital Markets announced the transaction on November 2, stating that it advised Nuveen Real Estate on the portfolio acquisition and arranged financing for 11 of the 13 properties through U.S. Bank.
The 13-property portfolio encompasses approximately 1.89 million square feet of open-air retail space. The assets are primarily grocery-anchored community and neighborhood shopping centers and were 93.5% leased at the time of the announcement.
The portfolio includes six properties in California, four in Colorado and three in Washington. Grocery anchors across the portfolio include Safeway, Walmart Neighborhood Market, Sprouts, FoodMaxx and Grocery Outlet. Other national retailers include Target, TJ Maxx, Marshalls, Ross and Best Buy.
The JLL Capital Markets Investment Sales and Advisory team advising Nuveen was led by Managing Director Daniel Tyner, Senior Managing Directors Geoff Tranchina and Gleb Lvovich, and Managing Director Eric Kathrein. JLL’s Debt Advisory team was led by Americas President Kevin MacKenzie, Director Spencer Bergthold and Managing Director John Marshall.
“Investor demand for high-quality, well-located retail remains strong, and this portfolio provides Nuveen with scale and geographic diversification across multiple West Coast markets,” Tyner said. “The combination of well-located infill centers paired with future growth potential at each asset made this portfolio extremely attractive in today’s market.”
Financial details for the individual Colorado properties were not disclosed.
