California Investors Buy Shops At Green Valley Ranch
Houston-based Lone Star Partners has sold The Shops at Green Valley Ranch to California-based investment partnership LSP GVR LLC in a deal valued at $8.6M.
The multi-tenant retail center at 4906-4998 North Tower Road in Denver’s Green Valley Ranch neighborhood includes two free-standing retail buildings totaling 19,840 SF on 2.81 acres. The property, built in 2017, is fully leased to a mix of 11 national and local retailers, including Burger King, Sport Clips, Pizza Hut, Jimmy John’s, Cold Stone Creamery, David Nails & Spa, and GVR Dental and Orthodontics.
The property, which is adjacent to a high-performing King Soopers grocery store, sits along Tower Road with storefront and signage exposure to more than 18,700 vehicles a day and is a five-minute drive from the new Gaylord Rockies Resort and Convention Center.
“There continues to be a trend toward investment in high-quality, street-front retail assets, especially those tenanted by service and food-based retailers perceived to be less impacted by the e-commerce effect,” said CBRE Senior Vice President Matthew Henrichs, who with Brad Lyons represented the seller. “In Colorado in particular we are seeing strong interest from out-of-market investors due to our region’s strong population and job growth and relative proximity to core coastal markets.”
