Three-Asset Retail Portfolio in Littleton Sells for $15M
Greenwood Village-based Hawkeye INVSCO as sold its retail portfolio consisting of three multi-tenant retail centers totaling 101,103 square feet in Littleton. The three properties included Marketplace at Ken Caryl, Columbine Plaza, and Marina Pointe Shopping Center that sold for a combined $15.125 million to an undisclosed investor.
Located in close proximity, all three centers are well located along key thoroughfares with consistent traffic patterns from the neighborhood residents and daytime employment base. All three centers are surrounded by stable and strong income demographics.
Cushman & Wakefield’s Jon Hendrickson, Aaron Johnson and Mitch Veremeychik represented the seller in the transaction.
“Neighborhood retail centers are primarily defined by their namesake, the neighborhood. In the case of all three of these properties, the various Littleton neighborhoods have long supported the businesses within them. The seller did a wonderful job curating a successful, sustainable tenant mix,” said Executive Director Jon Hendrickson. “The buyer will have an opportunity to address many value add characteristics, and elevate the properties into the maximum form they deserve.”
“The market fully embraced these offerings, and made it challenging for the seller to select a buyer. It was a pleasure for our team to work on this portfolio transaction,” added Hendrickson.
Marketplace at Ken Caryl: Located 10143 West Chatfield Avenue and the largest of the assets, the center totals 47,606 sf. The property was originally built in 1981 and is situated on nearly ±5 acres. Consisting of inline and pad space, the tenant mix includes a variety of personal services, financial services, restaurant, food, automotive, and pet services.
Columbine Plaza: Located at 6671-6745 Ken Caryl Avenue, the multi-tenant center totals 33,947 sf. The property was originally built in 1977 and is situated on over ±2 acres, with 5/1000 parking. The tenant mix consists primarily of local and regional personal services, clothing/shoes, and restaurant.
Marina Pointe Shopping Center: Located at 7444 West Chatfield Avenue, the multi-tenant center totals 19,550 sf. The property was originally built in 1983 and is situated on ±1.83 acres. Tenants include a mix of primarily local and regional personal services, financial services, and restaurant.