Private Investor Sees Value in Fountain Retail Center
A private discretionary investor has purchased E Shops at Mesa Ridge, a 9,380-square-foot retail center located at 6825 Mesa Ridge Parkway in Fountain, Colo, for $4.1 million, in a sale that closed Nov. 1.
Parker Brown, Matthew Henrichs and Brad Lyons with CBRE Capital Markets, National Retail Partners, represented the seller, a Los Angeles-based private real estate fund.
“E Shops at Mesa Ridge offered the incoming owner best-in-class tenancy with triple-net leases and long-term historical occupancies,” said Mr. Brown. “The greater Colorado Springs area is on the radar for investors across the entire capital spectrum looking to enhance their real estate investment portfolio.”
Built in 2013, E Shops at Mesa Ridge is a five-tenant strip center located adjacent to a 65,000-square-foot regional shopping center anchored by a Safeway. The property has never incurred a vacancy since its construction and is home to five retailers: Noodles & Co., Sprint, Jersey Mike’s, Sports Clips and H&R Block.
E Shops at Mesa Ridge is located approximately 15 minutes south of Colorado Springs.