JLL Capital Markets has completed the $12.15 million sale of Drake Crossing, a 56,214-square-foot shopping center in Fort Collins.
JLL represented the seller, Alpine Investment Group LLC, in the off-market sale to Big Ben Funds, a Denver-based real estate investment firm focused on value-add and income-producing commercial properties, and CAMCRE, a Colorado commercial real estate investment and management company.
Drake Crossing is situated at 2100 W Drake Rd. in the dense residential neighborhoods of West Fort Collins. The three-building shopping center is 96% leased to a diverse mix of local and national tenants, including Subway, Joseph’s Hardware Store, Intersect Brewery, Poudre Pet & Feed Supply and more.
JLL’s Capital Markets Investment Sales and Advisory team representing the seller was led by Managing Director Jason Schmidt and Senior Director Austin Snedden.
“The market continues to demonstrate significant appetite for grocery-anchored and shadow-anchored opportunities, reflecting the asset class’s fundamental strength,” said Snedden.
Built in 1983, Drake Crossing consists of three retail buildings totaling 56,214 square feet and sits within one of Fort Collins’ most established retail corridors. The center is positioned adjacent to Safeway and Walgreens, benefiting from consistent daily traffic generated by both retailers and the surrounding residential neighborhoods.
