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Retail

by John Rebchook

The Denver area is strewn with

old, small neighborhood strip

shopping centers often without

national retail anchors.

For the right buyer, given their

price points and locations that are

often on busy thoroughfares, they

can make attractive purchases.

One of the latest examples of

such a transaction was an Ida-

ho-based buyer that paid $3.15

million for the Shops at Colfax

& Kipling on 4.4 acres at 9797

W. Colfax Ave. in Lakewood,

at the northeast intersection of

West Colfax Avenue and Kipling

Street.

The 40-year-old, 44,247-square-

foot center was purchased by

9797 W. Colfax LLC.

“They had been looking at the

Denver area for quite some time

and this was

their first pur-

chase,” said

Troy Meyer

of Sperry Van

Ness, who

represented

the

seller,

along with

fellow Sperry

Van Ness bro-

kers

Dean

Corey and Kevin Matthews.

“They liked the location and

they liked the price point,” he

said.

The center had been under

contract before, but that deal fell

through and the Idaho group

stepped in to purchase it, he said.

“They not only really like the

center, but they like everything

that is happening along the West

Colfax corridor, such as the rede-

velopment of the old St. Anthony

hospital site,” Meyer said.

The St. Anthony site is to the

east, near Sheridan Boulevard

and West Colfax Avenue in Den-

ver.

“They are very bullish on that

entire corridor and wanted to be

part of it,” Meyer said.

The property was 94 percent

occupied at the time of the sale.

While it doesn’t have any

national tenants, it is anchored by

Disguises, a costume store that

has been there since 1978.

Disguises recently extended

and expanded its lease.

“Disguises really is the leader

in the costume business and is

a really well-known destination

for people looking for costumes,”

Meyer said.

Other tenants include Taste of

Philly, Cakes by Karen, Canine

College and 4 Paws Animal Clin-

ic.

The demographics are quite

strong for the area.

There is a population of 280,831

within a five-mile radius and the

average household income is

$63,688.

An average of 66,295 vehicles

pass the center daily.

The site includes an 18,000-sf

Idaho group buys Lakewood center at Colfax and Kipling

An Idaho LLC paid $3.15 million for the Shops at Colfax & Kipling.

Troy Meyer

Please see Colfax, Page 6AA

SECTION AA

JULY 16-AUGUST 5, 2014