HFF closes $11 million sale of value-add Denver-area retail center
DENVER, CO – July 24, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $11 million sale of Willow Creek Shopping Center, a 163,412-square-foot, value-add retail center in the Denver suburb of Centennial, Colorado.
HFF marketed the property on behalf of the seller, and procured the buyer, an entity controlled by Miami-based Jewell Capital, LLC.
Willow Creek Shopping Center comprises three buildings and four freestanding pad sites, two of which were not included in the sale. Originally completed in 1984 as a grocery-anchored center, the property was most recently renovated in 2005 and is home to a variety of tenants, including Vasa Fitness, Willow Creek Wine & Spirit, The UPS Store, Level 4 Yoga, Arc Thrift and Busy Little Hands. Willow Creek Shopping Center is situated on 21.4 acres at 8100, 8150, 8220, 8210, 8220 and 8260 South Quebec Street at the northeast corner of Quebec Street and County Line Road, which has a traffic count of more than 75,000 vehicles per day. More than 105,900 residents earning an average annual household income of approximately $127,084 live within three miles of the center.
The HFF investment sales team was led by managing director Jules Sherwood.
“The buyer saw great long-term potential in this cash-flowing value-add asset,” Sherwood said. “Its irreplaceable location at County Line and Quebec is a great fit for the investor’s long-term strategy.”
Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, “HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF and its affiliates operate out of 24 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 sales, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.