Buyer Sees Value in Lone Tree Retail Center
The Shops at Park Meadows, a 5,556-square-foot retail property in Lone Tree, has sold for $2.7 million to a locally based private investor. Located at 9226 Park Meadows Drive, the strip retail center is highly visible at the signaled intersection of major arterial roads Yosemite Street and Park Meadows Drive.
Jeff Samuelson of Realty One Group Premier represented the buyer, 9226 Park Meadows Drive, LLC. According to Samuelson, the buyer purchased the site to capitalize on the significant traffic counts and high median income of the immediate trade area. The retail center is easily accessed by vehicles as well as pedestrian traffic from both the nearby light rail station and surrounding residential communities.
Sam Crowe of Avison Young’s Capital Markets Group in Denver represented the seller, LKI Freedom Investments LLC, in
the transaction. A locally based private investor, 9226 Park Meadows Drive, LLC, acquired the property.
“Retail in Lone Tree typically outperforms most markets,” said Crowe. “The center benefits from the strong demographics surrounding the Park Meadows Mall as well as the high daytime traffic generated in one of the most robust retail trade areas of Denver.”
Photo courtesy of Avison Young