JLL Capital Markets has arranged the $17.9 million sale and a $11.175 million acquisition financing for Marston Park Plaza, a 90,200-square-foot retail center located in Littleton.
JLL worked on behalf of the seller, Miller United Real Estate. JLL also represented the borrower, Ziff Real Estate Partners, in securing the five-year, fixed-rate loan through a life company correspondent lender.
Located at 5066 South Wadsworth Wy., Marston Park Plaza is strategically positioned at the intersection of S Wadsworth Blvd. and W Belleview Ave., which sees nearly 74,000 vehicles per day. The center is currently 88% leased to 18 tenants with an average lease term of 4.9 years. Its diverse tenant roster includes The Tile Shop, Wag N Wash, Little Caesars Pizza, Vitalant, America’s Best Contacts and a newly signed lease with Veterinary Emergency Group.
The property sits within a prime retail node featuring popular retailers including Whole Foods, Sprouts, Total Wine & More and Lowe’s. The surrounding area boasts affluent demographics with an average household income of $116,000 within a three-mile radius and a population of approximately 266,000 people within five miles.
JLL Capital Market’s Investment Sales and Advisory team was spearheaded by Managing Director Jason Schmidt and Director Austin Snedden. JLL Capital Market’s Debt Advisory team was led by Director Rob Bova and Executive Managing Director Eric Tupler.
“Marston Park Plaza represented an exceptional investment opportunity in one of Denver’s most stable retail corridors,” said Bova. “The property’s strong in-place cash flow, combined with value-add potential through lease-up of vacant spaces, made this an attractive opportunity for both the borrower and lender.”
“The sale of Marston Park Plaza demonstrates the ongoing appeal of well-positioned retail centers in Denver’s thriving submarkets,” said Schmidt. “We received competitive offers from both institutional and private capital sources across the country, highlighting the strong investor appetite for retail properties with stable cash flow and growth potential in Colorado’s dynamic market.”
