Following a competitive bid process, Birmingham-based companies Southern Oak Capital (SOC) and Green Rock, LLC have purchased Main Street Station, a fully leased, 34,652-square-foot high-street retail asset at the base of the mountain in Breckenridge. Southern Oak paid $16.75 million, according to a JLL press release.
The property was built in 2002 and consists of three buildings with retail on the first floor and residential condos above. At the time of sale, the property was 100 percent occupied to a diverse roster of national brand name tenants and local favorites, including the newest Lululemon in Colorado, extreme sports favorite Teton Gravity Research, several local restaurants and more. SOC plans to continue upon the improvements that have been made to the location.
“We are extremely excited to acquire this asset on the base of peak 9. We had to move quickly and make an offer within the first week of it being listed, so we could purchase this asset outside of a traditional bidding process,” said Kevin Price, principal and Portfolio Manager of SOC.
The JLL Capital Markets team representing the seller, MSS Breck, was led by Jason Schmidt and Larry Thiel.
“This sale is clear evidence of the heightened popularity of Colorado and our mountain communities,” Schmidt said. “The world has had reason to focus on lifestyle choices, and Colorado will continue to benefit by that trend.”
Anchored by the majestic Rocky Mountains, Breckenridge is known as a top international destination with millions of visits annually. Main Street Station is located at the epicenter of the Breckenridge shopping district at the base of Peak 9, the main entry point of the world-renowned Colorado ski resort.
Photo courtesy of JLL
