Metro-Denver 90,200-square-foot retail center sells for nearly $18M
Marston Park Plaza Sells for $17.9 Million
Marston Park Plaza, a 90,200-square-foot retail center located in Littleton, has been acquired by Ziff Real Estate Partners for $17.9 million. The sale was facilitated by JLL, a leading commercial real estate and investment management company, who represented both the seller, Miller United Real Estate, and the buyer.
The shopping center, situated at 5066 South Wadsworth Way, boasts a high daily traffic count of nearly 74,000 vehicles. Currently, 88% of the plaza is leased to 18 tenants with an average lease duration of 4.9 years. Major retailers in the vicinity include Whole Foods, Sprouts, Total Wine & More, and Lowe’s.
With an average household income of $116,000 within a three-mile radius and a population of approximately 266,000 within five miles, Marston Park Plaza is positioned in a lucrative market. According to Rob Bova, director of JLL’s capital market’s debt advisory team, the plaza presented an outstanding investment opportunity in one of Denver’s most stable retail areas.
JLL’s debt advisory team, led by Bova and Eric Tupler, secured a five-year fixed-rate loan for the buyer through a life company correspondent lender. On the other hand, the capital market’s investment sales and advisory team, spearheaded by Jason Schmidt and Austin Snedden, facilitated the sale process.
Schmidt highlighted the strong interest from both institutional and private investors nationwide, emphasizing the appeal of retail properties with steady cash flow and growth potential in Colorado’s dynamic market.
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