Centre Point Properties Sells Westminster Retail Center for $6.4M
Plaza Northwest, a 27,405-square-foot retail center located in Westminster situated adjacent to the Westminster Mall redevelopment project, has sold for $6.44 million. JLL represented the seller, private CRE investment firm Centre Point Properties in the transaction. Park Meadows Real Estate, LLC acquired the property.
Built in 1984, the property is 94.1-percent-leased to a diverse mix of tenants, including Rocky Mountain Urgent Care, 303 Training Center, Hot Pho, T Love Nails, Empire Fitness, One Main Financial, State Farm Insurance, Partners in Health and Connie’s Antiques.
Situated at 6050 and 6080 West 92nd Ave., the property is strategically located along the Denver-Boulder turnpike. The property further benefits from its access to the Sheridan Boulevard intersection, which carries over 95,000 vehicles daily from the affluent housing base of Denver’s northern suburbs, including Northglenn, Thornton and Broomfield. The center is adjacent to one of Colorado’s best-performing Costco’s, as well as the 105-acre Downtown Westminster redevelopment, attracting customers from both the immediate trade area and beyond.
The JLL Retail Capital Markets Investment Sales and Advisory team that represented the seller was led by Managing Director Jason Schmidt.
“The purchase of Plaza Northwest was a long-term opportunity to buy a well-preforming, low basis, small format retail building located within in an evolving local market,” said Schmidt.