CREJ - page 56

Page 12AA —
— September 16-October 6, 2015
simply select the property type,
location, loan size, and loan type to find lenders
matching your search criteria.
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
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.
1...,46,47,48,49,50,51,52,53,54,55 57,58,59,60,61,62,63,64,65,66,...92
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