Avison Young brokers sale of 11,710-sf retail center in suburban Denver19 Jul 2019
Abilene Market Phase III in Aurora, CO sells for $209 per-square-footDenver — Avison Young, the world’s fastest-growing commercial real estate services firm, announced today that it has negotiated the $2.45-million sale of 11,710-square-foot Abilene Market Phase III, located at 1140-1160 South Abilene Street in the Denver suburb of Aurora, CO.
Joella Rodarte, a Senior Associate, and Sam Crowe, an Associate, both based in the company’s Denver office, co-ordinated the disposition on behalf of the seller, Colorado Blue Fox LLC.
“Despite the changing retail environment, demand for retail property is being propelled by Colorado’s job growth and a strong, sustainable and diverse economy,” comments Crowe.
Located near the East Mississippi Avenue and I-225 interchange, the center garnered a $209-per-square-foot price due to a healthy tenant mix offering immediate cash flow with the opportunity to boost returns by leasing the last available space. Tenants include PeopleReady, Supplement Giant, Cabinet Warehouse and Sleep Solutions.
“The property has an 85% occupancy rate with great visibility from two massive electronic digital displays with exposure to Mississippi Avenue," says Rodarte.
Avison Young is the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its Principals. Founded in 1978, with legacies dating back more than 200 years, the company comprises approximately 5,000 real estate professionals in 120 offices in 20 countries. The firm’s experts provide value-added, client-centric investment sales, leasing, advisory, management and financing services to clients across the office, retail, industrial, multi-family and hospitality sectors.