PCCP & Alberta Development Partners Sells Part of Cornerstar Power Center in Aurora, CO for $116.5MM
San Francisco, Calif., January 17, 2014– A joint venture between PCCP, LLC and Alberta Development Partners has announced the sale of a major portion of Cornerstar, a 750,000-square‐foot regional power center in Aurora, CO. The buyer was Cole, a net-lease real estate investment trust (REIT), who acquired 430,000 square feet of the 97 percent leased center for $116.5 million. The acquired portion includes 24 Hour Fitness, Sprouts Farmers Market, and Dicks Sporting Goods along with many small shops, a diverse mix of restaurants including Red Robin, Tokyo Joes, Wich Wich, Real de Minas, and others. Target is also an anchor tenant at the center but was not a part of the transaction.