Colorado Real Estate Journal -
AmCap Inc. bought the dominant grocery-anchored retail center in Fort Collins for $58 million. Harmony Marketplace, located at the northeast corner of Harmony Road and South College Avenue, is a 350,571-square-foot center anchored by King Soopers and Home Depot. Its tenants also include PetSmart, HomeGoods and Walgreens. The 69,890-sf grocery store is a “very high-performing King Soopers,” said AmCap Chief Investment Officer Jake Bisenius, who called Harmony Marketplace “a very strong center.” “It’s a very high-traffic intersection, great demographics,” said Bisenius. “The Fort Collins market is a strong, growing market anchored by a college,” he added. FC Timberline LLC, which developed Harmony Marketplace in 1997-1998, sold the property, which includes both inline and freestanding space. Home Depot is on a long-term ground lease. The shopping center was 97 percent occupied at the time of the sale and drew strong investor interest, according to Brad Lyons of CBRE, who represented the seller with CBRE brokers Tim Swan and Matt Henrichs. “It’s a top-tier asset,” Lyons said. Harmony Marketplace is among more than a dozen King Soopers-anchored retail centers that AmCap owns and manages along Colorado’s Front Range. The company also owns Safeway and Whole Foods-anchored centers, including Clayton Lane in Cherry Creek. Based in Stamford, Conn., with an office in Denver, the company owns and manages grocery-anchored centers in 20 states.