BrokerageRetail

Lakewood Retail Center Sells for $5M

Union Walk Retail Center at 180 S. Union Boulevard in Lakewood has sold for $5.025 million. The retail center contains approximately 12,000 square feet of retail space and was fully leased at the time of sale. The center features strong national tenants including Bruegger’s Bagels and Floyd’s Barbershop.

Matrix Group, Inc., a local and privately-owned commercial real estate agency, maintains a portfolio of over 1 million square feet of industrial, office, and retail properties along the Colorado front range.  Matrix Group provides property management, leasing, acquisition/disposition and asset management services for its portfolio.  The proceeds of the sale of Union Walk Retail Center, which was owned under the Union Walk/46th Avenue LLC group, will be used as a 1031 exchange for the acquisition of Huron Business Center in Northglenn, CO.

John Webb, co-founder and president of Matrix Group, believes the sale comes at an appropriate time for the company.

“Union Walk Retail Center was a great addition to our portfolio when we acquired it in 2012. However, Matrix Group is shifting its portfolio to include a higher percentage of industrial and flex spaces than we have held in the past. The sale of Union Walk and purchase of Huron Business Center supports this pivotal change for Matrix Group.”

Dan Grooters and Riki Hashimoto of Newmark Knight Frank, represented Matrix Group in the sale.

Photo courtesy of Matrix Group

 

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