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October 4-17, 2017

www.crej.com

Retail

ORIGINAL “WAXMAN CAMERA”

PROPERTY FOR LEASE ONLY

911-919 15th Street, Denver, CO 80202

First floor and two upper floors, plus

basement

Approximately 3,250 SF per floor, Rentable

or 9,750 SF above ground*

Interior dimensions vary per floor ranging

from 2,791-3,010 useable SF

Zoning: Downtown Theatre District (”D-TD”)

Taxes: Approximately $19,238 (2017)

Built in 1920, subsequent remodels

No parking included, but building is adjacent

to parking lot available for daily rental

Excellent building signage opportunities -

Building will have “wow” factor for signage

Long Term Ground Lease also entertained

Tenant Finish Allowance and Free Rent

available to qualified tenants

1 block from Colorado Convention Center and

Performing Arts Center

Across the street from the Telecommunica-

tions Center of Denver - AT&T, CenturyLink,

Denver Main, and 910Telecom

Massive fiber optic intersection

THE INFORMATION ABOVE HAS BEEN OBTAINED FROM SOURCES BELIEVED RELIABLE. WHILE

WE DO NOT DOUBT ITS ACCURACY WE HAVE NOT VERIFIED IT AND MAKE NO GUARANTEE,

WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, ABOUT IT. IT IS YOUR RESPONSIBILITY

TO INDEPENDENTLY CONFIRM ITS ACCURACY AND COMPLETENESS. THE INFORMATION

CONTAINED HEREIN (INCLUDING, WITHOUT LIMITATION, PRICES AND RENTAL RATES) IS

SUBJECT TO CHANGE AND/OR WITHDRAWAL WITHOUT NOTICE. SEPTEMBER 2017

Jeffrey Hirschfeld

jhirschfeld@antonoff.com •

303.454.5425

1528 Wazee Street

Denver, CO 80202

O 303.623.0200

F 303.454.5400

www.antonoff.com

BUILDING DETAILS:

by Jennifer Hayes

Armstrong Capital Develop-

ment found opportunity at a sub-

urban infill site.

The Denver-based real estate

and investment company pur-

chased a Littleton shopping cen-

ter, where its planning upgrades

and, potentially, expansion.

ACD paid $7.5 million for Cen-

tennial Square shopping center, a

62,215-square-foot center at 2727

W. BelleviewAve.

Centennial Square is shadow-

anchored by a King Soopers Mar-

ketplace and across Belleview

from a Home Depot.

“We are excited to acquire this

infill asset with its advantageous

positon in such a vibrant market,”

said JarrettArmstrong,ACDpart-

ner. “The success of the surround-

ing anchors and new residential

development underway make

Centennial Square an excellent

fit for ACD. We anticipate that

our improvements to the center

will complement the surround-

ing trade area and ultimately cre-

ate the inviting shopping center

sought by the community.”

ACD’s first priority with the

property is to refresh the center,

built in phases from 1978 to the

1980s. Work will include updat-

ing/remodeling the fascia of

the multibuilding property, site

work, landscaping, site signage

and the parking lot. The improve-

ments not only will improve the

aesthetics of Centennial Square

but also its functionality of the

site plan and improving traffic

flow through the center, added

Kathryn Sorensen, development

manager at ACD.

“We like looking for diamonds

in the rough,” she added.

Additionally, new construction

and expansion of the center’s

underutilized area is a possibility.

At the time of acquisition, the

center was 82 percent leased with

approximately 10,000 sf of avail-

able space. Tenants include Dairy

Queen, Mattress Firm, Subway,

Dollar Tree, CorePower Yoga and

Supercuts. A Taco Bell at the cen-

ter was not included in the sale.

Mike DePalma and Sean Kul-

zer at SullivanHayes Brokerage

are handling leasing of Centen-

nial Square.

Matthew Henrichs and Brad

Centennial Square center sells to Armstrong Capital Development

CBRE

Renovations to Centennial Square will refresh the King Soopers shadow-anchored center in Littleton.

by Jennifer Hayes

A two-building neighbor-

hood retail center’s sale recently

topped $481 per square foot.

A local 1031 exchange buyer,

Ingalls RE 2 LLC, paid $5.22

million for Highlands Retail

Center at 1200-1230 W. 38th

Ave. in Denver. The 10,844-sf

center was sold by LCP Devel-

opment, a Denver-based devel-

opment and property manage-

ment company.

Highlands Retail Center is

home to tenants including Den-

ver Deep Dish, Lash Boulevard,

Fierce45,Abundant Smiles Den-

tistry and Cycle Bar.

“Last year LCP Development

was one of the first developers

to jump into this highly traf-

ficked section of 38thAvenue in

the booming Highlands neigh-

borhood. It didn’t take long for

many other developers to fol-

low suit. Within just one block

of Lipan Street, Chubby’s razed

and rebuilt their popular Mexi-

can restaurant and five new

homes were under construc-

tion,” said Rob Edwards of

Pinnacle Real Estate Advisors

LLC.

Edwards and Tom Ething-

ton of Pinnacle represented the

seller. Pinnacle’s Jules Hoch-

man and Justin Brockman rep-

resented the buyer.

V

Highlands center trades for $5.22M

Highlands Retail Center is home to tenants including Denver

Deep Dish, Lash Boulevard, Fierce45, Abundant Smiles Dentistry

and Cycle Bar.

Please see Centennial, Page 21