BrokerageRetail

Multi-Tenant Retail Property on Colorado Boulevard Sells for $5.5M

A KeyBank shops property located at 2305 South Colorado Boulevard in Denver has sold for $5,470,000 or $678 per square foot. The property was 100 percent leased at the time of sale and included three tenants.

The property was sold by Armstrong Capital Development, an investment company whose true boots-on-the-ground investment model creates value stemming from a local presence, origination, and management.

Ryan Bowlby, first vice president, and Drew Isaac, senior managing director of Marcus & Millichap’s Denver office, had the exclusive listing to market the property on behalf of Armstrong Capital Development. The buyer, a private out-of-state investor, was secured by Bowlby.

Key Bank recently demonstrated commitment to this location by extending their lease through 2029.

“Colorado Boulevard is one of the most sought-after retail corridors in the state, and the subject property is perfectly positioned at the signalized intersection of Colorado Boulevard & Iliff Avenue,” commented Bowlby.

 

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