Cushman & Wakefield has advised the sale of Summer Valley Shopping Center, a 95,669-square-foot retail center located at the northeast corner of E Quincy Avenue & S Buckley Road in Aurora, Colorado. Anchored by Vasa Fitness and Dollar Tree, the property is 99% leased to a stable and synergistic service-based roster of 18 tenants. The property sold for approximately $20.4 million to an undisclosed buyer.
Cushman & Wakefield’s Jon Hendrickson, Aaron Johnson and Mitch Veremeychik represented the seller, Arbor Plaza LLC, in the transaction.
“Summer Valley Shopping Center is a bustling property and a great place for retail tenants to succeed. The shop space has been well leased ever since the years that Safeway served as the anchor tenant, with Vasa Fitness and Dollar Tree filling that role,” said Executive Director Jon Hendrickson.
“The buyer has the dual opportunity of a stable profile investment that also can be improved in ways that will add substantial value over the hold period. Long-term, patient capital will prevail at Summer Valley,” added Hendrickson.
Originally built in the 1980s but substantially renovated and modernized since, the Summer Valley Shopping Center is well located at one of Metro Denver’s premier and established retail intersections, with four robust anchor retailers situated at each of the four quadrants. Fourteen of the 18 tenants in the center have been at the property for five years or more, while five tenants have been there for 15 years or more.
Cushman & Wakefield is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in approximately 400 offices and 60 countries. In 2022, the firm reported revenue of $10.1 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services.