Cushman & Wakefield has advised on the sale of the 95,669 square foot Summer Valley Shopping Center in Aurora, Colorado for US $20.4 million.
The retail center on the northeast corner of East Quincy Avenue and South Buckley Road was built in the 1980s and has undergone substantial renovation.
Anchored by Vasa Fitness and Dollar Tree, it is 99% leased to service-based roster of 18 tenants.
Cushman & Wakefield Executive Director Jon Hendrickson represented the seller, Arbor Plaza LLC in the transaction supported by colleagues Aaron Johnson and Mitch Veremeychik.
He describes Summer Valley Shopping Center as a 'bustling property and a great place for retail tenants to succeed'.
Hendrickson adds: "The shop space has been well leased ever since the years that Safeway served as the anchor tenant to the present when Vasa Fitness and Dollar Tree fill that role.
The buyer has the dual opportunity of a stable profile investment that also can be improved in ways that will add substantial value over the hold period. Long term, patient capital will prevail at Summer Valley.
"The buyer has the dual opportunity of a stable profile investment that also can be improved in ways that will add substantial value over the hold period.
Long term, patient capital will prevail at Summer Valley."
The Summer Valley Shopping Center is well located at one of metro Denver’s premier and established retail intersections, with four robust anchor retailers situated at each of the four quadrants.
Fourteen of its 18 tenants have been at the property for the past five years or more, while five have been there for 15 years or more.
