Washington Center, a 92 percent-leased shopping center located along one of Northglenn’s most highly trafficked retail corridors, has sold for $10.23 million.
JLL represented the seller, Northglenn LLC. The buyer was a local investment firm. JLL also worked on behalf of the borrower, facilitating a fixed-rate loan from a bank.
Washington Center is strategically positioned at 812-858 E 120th Ave. and 11874-11890 Washington St. at the intersection of Washington Street and E 120th Avenue, which sees over 100,000 vehicles per day. This prime location offers excellent visibility in one of Denver’s fastest-growing northern submarkets, known for its favorable demographics and proximity to major retail anchors.
The 50,445-square-foot retail center is 92 percent leased and includes 19 tenants across 21 suites. The property features a diverse tenant mix with national tenants including CSL Plasma, Smashburger, and Subway, alongside established local businesses. Washington Center draws over 1.4 million visits per year and is shadow-anchored by Walgreens, with nearby high-performing anchors including Super Target, Safeway and Sprouts.
JLL Capital Market’s Investment Sales and Advisory team representing the seller was led by Managing Director Jason Schmidt and Senior Director Austin Snedden. Senior Director Rob Bova arranged the financing.
“Washington Center represented a compelling opportunity to acquire an established retail asset in Northglenn’s primary retail corridor with significant upside potential,” said Schmidt. “The property’s below-market rents, strong demographics and exceptional location made it an attractive opportunity for the buyer.”
“We are pleased to facilitate this transaction for the buyer,” added Snedden. “With average in-place rents 47% below submarket averages and the ongoing Karl’s Farm development, adding over 650 residential units nearby, Washington Center presents tremendous opportunity for value creation in the years to come.”
