HFF announces sale of transit-oriented mixed-use property near Denver
DENVER, CO – January 9, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of Olde Town Plaza, a 19,673-square-foot, transit-oriented, mixed-use retail and residential building in the northwest Denver suburb of Arvada, Colorado.
The HFF team marketed the property on behalf of the seller, Revesco Properties USA.
Olde Town Plaza is situated at the entrance of Olde Town Arvada, one of Denver’s historic districts, at 5773-5777 Olde Wadsworth Boulevard. The property is located at the highly trafficked “Main and Main” intersection of Olde Wadsworth Boulevard and Ralston Road two blocks from the Olde Town Arvada RTD Light Rail Station, which is scheduled to open in 2018. Additionally, the property, which is 10 miles from downtown Denver, is proximate to some of the area’s most celebrated breweries, restaurants and galleries. Completed in 1938, Olde Town Plaza’s three-story building consists of 10,844 square feet of ground-floor retail and 17 apartment units averaging 519 square feet.
The HFF investment advisory team included directors Chad Murray and Mark Williford.
“Olde Town Plaza was a unique opportunity to acquire a transit-oriented, mixed-use asset at ‘Main and Main’ in one of the hottest growth submarkets of Denver,” Williford said. “The former owner had implemented a successful value-add strategy, and the new owner intends to continue executing on that strategy through the project’s completion.”
About Revesco Properties
Revesco Properties is a focused, nimble and responsive boutique real estate investment and management firm. The company focuses exclusively on well-located yet often underperforming retail real estate assets in targeted U.S. and Canadian markets. Visit revescoproperties.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.