Marcus & Millichap Sells Shopping Center in Thornton for $2.3M
Thornton, CO – Marcus & Millichap announced the sale of Lambertson Lakes II, a 12,808-square foot retail property located in Thornton, Colorado. The asset sold for $2,300,000, or $180 per square foot.
Cory Gross, a senior associate with the firm’s Denver office and a member of the National Retail Group, represented both the seller, WGAFF II LLC, and the buyers, Bruce and Jolene Ver Steeg. “Lambertson Lakes Shopping Center was a very sought-after asset that received a lot of interest from both in-state and out-of-state investors,” says Gross. “They were driven by the great location and the quality of the asset. The buyer already owns retail property in Thornton and saw the value-add potential in the property as a great opportunity to add to their existing portfolio.”
Lambertson Lakes Shopping Center has five tenants, including Comfort Dental, Panda Garden Chinese Restaurant, Chiro Now, Jiu Jitsu and Fashion Care Dry Cleaners. Its strategic location along the Thornton Parkway corridor pulls both national and regional tenants. The center is part of a retail development anchored by Safeway, with tenants including Bellco Credit Union, TCF Bank, Valvoline and Culvers.
Image courtesy of Marcus & Millichap