Page 12AA —
COLORADO REAL ESTATE JOURNAL
— September 16-October 6, 2015
FIND FINANCING
V
simply select the property type,
location, loan size, and loan type to find lenders
matching your search criteria.
Retail
by John Rebchook
Pine Tree Commercial Realty
LLC recently paid $54.9 mil-
lion for the Arvada Market-
place-Connection, beating out
numerous other investors that
wanted the shopping center
with multiple big-box tenants.
“We had multiple offers
on it,” said Brad Lyons,
who marketed and sold the
367,510-square-foot center at
West 52nd Avenue and Wad-
sworth Boulevard with fellow
CBRE brokers Ron Urgitus,
Matthew Henrichs, Tim Richey
and Mike Winn. They repre-
sented Retail Properties of
America Inc., the seller.
“A variety of capital wanted
it, including some private equi-
ty firms and private REITs,”
Lyons said.
“There was good, across-the-
board interest in it,” he added.
The size, tenant mix and loca-
tion made it an attractive asset,
he said.
“It is a super regional cen-
ter at two major intersections,
Wadsworth and Interstate 70,
and it also is close to I-76,”
Lyons said.
The center, about 94 percent
leased when it was purchased,
is anchored by a 142,491-sf
Sam’s Club, which takes up 39
percent of the gross leasable
area.
Other major tenants include:
• A 54,903-sf Sports Author-
ity, which accounts for 13 per-
This map shows the location of Arvada Marketplace-Connection as well as other nearby retailers.
