HFF announces $2.1M sale of single-tenant retail building in Grand Junction, Colorado
DENVER, CO – December 13, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announces the $2.1 million sale of an 85,485-square-foot, vacant, single-tenant retail building at 2809 North Avenue in Grand Junction, Colorado.
The HFF team marketed the property on behalf of the seller, a privately held operator out of the Midwest. AMERCO, the parent company of U-Haul, purchased the asset.
Two miles from downtown, 2809 North Avenue was formerly occupied by Kmart and is zoned for retail, office and other commercial uses. The building is situated on 10.34 acres in the heart of the North Avenue retail corridor, a major east-west artery connecting Grand Junction’s major business districts, and half a mile off Interstate 70, the area’s main east-west connector.
The HFF investment advisory team included directors Chad Murray and Mark Williford.
“We continue to see opportunity in well-located vacant retail boxes, and 2809 North Avenue was no exception, garnering significant interest from traditional retailers and non-retailers alike,” Williford said. “The former Kmart provided an opportunity for U-Haul to expand its current presence in Grand Junction with a highly visible and well-trafficked location.”
Since 1945, U-Haul has been the choice for the do-it-yourself mover. U-Haul customers' patronage has enabled the Company to maintain the largest rental fleet in the do-it-yourself moving industry which includes a fleet of trucks, trailers and towing devices. U-Haul also offers storage throughout North America. U-Haul is the consumer's number one choice as the largest installer of permanent trailer hitches in the automotive aftermarket industry. The company supplies alternative-fuel for vehicles and backyard barbecues as one of the nation's largest retailers of propane. Visit uhaul.com for more information.
HFF and its affiliates operate out of 25 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.