$2.7 Million Sale of Strip Retail Center in Lone Tree, CO3 Nov 2020
The Shops at Park Meadows finds new buyer
Denver, CO –Avison Young has negotiated the $2.7 million sale of The Shops at Park Meadows, a 5,556-square-foot retail property in Lone Tree. Sam Crowe of Avison Young’s Capital Markets Group in Denver represented the seller, LKI Freedom Investments LLC, in the transaction. A locally based private investor, 9226 Park Meadows Drive, LLC, acquired the property.
“Retail in Lone Tree typically outperforms most markets,” said Crowe. “The center benefits from the strong demographics surrounding the Park Meadows Mall as well as the high daytime traffic generated in one of the most robust retail trade areas of Denver.”
Jeff Samuelson of Realty One Group Premier represented the buyer, 9226 Park Meadows Drive, LLC. According to Samuelson, the buyer purchased the site to capitalize on the significant traffic counts and high median income of the immediate trade area.The strip retail center is located at 9226 Park Meadows Drive. It is highly visible at the signaled intersection of major arterial roads Yosemite Street and Park Meadows Drive. It is easily accessed by vehicles as well as pedestrian traffic from both the nearby light rail station and surrounding residential communities.
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