Why Investors Are Seeking Retail Again
Retail hasn't been the darling among investment properties in recent years, but investors are coming around—at least for assets in up-and-coming places in hot markets like Denver.
Recently, Brown & Associates of Westminster acquired the 43k SF Creekside on Colfax retail center at 1692 Wadsworth Blvd in Lakewood for $13M. CBRE first VP Matthew Henrich says "the significant improvement happening recently along West Colfax" means Creekside offered a solid investment opportunity. One example of such improvement: new signage, wayfinding, pedestrian amenities and programmable public spaces at Lamar Station Plaza.
Built in 2006, Creekside includes four multi-tenant buildings on more than five acres, and is more than 87% leased. "Spanning Sloan’s Lake to Wadsworth Avenue, the West Colfax corridor is beginning to attract capital willing to make a significant investment in the area,” Matthew notes.
Along with colleague Brad Lyons, he repped the seller, a SoCal-based owner.
