Safeway-Anchored Roxborough Marketplace Trades
Despite the negative impact that the COVID pandemic is having on the retail market, CBRE recently completed the sale of Roxborough Marketplace, a Safeway grocery-anchored retail center located at 8355 North Rampart Range Road in Littleton.
Brad Lyons and Tim Richey with CBRE’s National Retail Partners represented the seller, Slate Asset Management from Toronto. Phillips Edison of Cincinnati purchased the property for an undisclosed price, in a sale that closed Oct. 5.
“Roxborough Marketplace offers the only full-service grocery store within 5 miles, making it the main retail destination in the area for groceries and daily needs. The property has stable historic occupancy, and it offers value-add potential through the lease-up of vacant space and the development of additional pad sites,” stated Brad Lyons, Executive Vice President, CBRE.
Built in 2004, Roxborough Marketplace includes one anchor big box building, three multi-tenant buildings and three developed pad sites including one fuel pad. The property is located at the intersection of North Rampart Range Road and Waterton Road, a
couple miles north of Roxborough State Park. It is across from the new, 3,400-acre master-planned community Sterling Ranch, which includes 12,000 new housing units and approximately 33,000 residents.