Avison Young finds new buyer for $2.7 million strip retail center in Lone Tree, CO
November 3, 2020Denver, 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.Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.
Avison Young is a 2020 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for nine consecutive years.