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Credit: Cushman & WakefieldThe 95,669-square-foot Summer Valley Shopping Center is a retail center in Aurora, Colorado, that has been put up for sale with the help of Cushman & Wakefield. Vasa Fitness and Dollar Tree serve as the property’s anchors, while a steady and productive roster of 18 service-based tenants makes up 99% of the property’s leases. An unidentified buyer purchased the property for about $20.4 million.
Arbor Plaza LLC, the seller in the deal, was represented by Jon Hendrickson, Aaron Johnson, and Mitch Veremeychik of Cushman & Wakefield.
The busy Summer Valley Shopping Center is a fantastic location for retail tenants to flourish. Vasa Fitness and Dollar Tree have taken over Safeway’s former role as the main tenant, and the retail area has been successfully leased ever since, according to Executive Director Jon Hendrickson.
The buyer has the chance to purchase an investment with a steady profile as well as one that can be enhanced in ways that will significantly increase value throughout the holding time. At Summer Valley, long-term cautious capital will triumph, Hendrickson continued.
The Summer Valley Shopping Center, which was initially constructed in the 1980s but has since undergone extensive renovations and modernization, is well placed at one of Metro Denver’s most prominent and well-known retail intersections, with four strong anchor businesses positioned at each of the center’s four quadrants. Five of the center’s 18 tenants have been there for 15 years or longer, while 14 of the 18 tenants have been there for at least five years.
With almost 52,000 workers across 400 locations and 60 countries, Cushman & Wakefield is a top provider of commercial real estate services to owners and occupiers. The company’s primary services of property, facilities, project management, leasing, capital markets, valuation, and other services generated $10.1 billion in sales in 2022.
Credits: Milehigh
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