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
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-
of Sperry Van
Van Ness bro-
Corey and Kevin Matthews.
“They liked the location and
they liked the price point,” he
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-
“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,”
Other tenants include Taste of
Philly, Cakes by Karen, Canine
College and 4 Paws Animal Clin-
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
An average of 66,295 vehicles
pass the center daily.
The site includes an 18,000-sfIdaho group buys Lakewood center at Colfax and Kipling
An Idaho LLC paid $3.15 million for the Shops at Colfax & Kipling.
Troy MeyerPlease see Colfax, Page 6AA
JULY 16-AUGUST 5, 2014