Press Releases
Marcus & Millichap Announces a Portfolio Sale of Neighborhood Shopping Centers in the Denver Metro Area
January 23, 2024
DENVER, January 23, 2024 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of SouthPark Shopping Center in Littleton, Colorado and Athmar Park Shopping Center in Denver, Colorado. The portfolio sold for $11,200,000, and included a combined 111,142 square feet.
Ryan Bowlby, senior director, Drew Isaac, senior managing director, in Marcus & Millichap’s Denver office had the exclusive listing to market the property on behalf of the seller, a private investor based in Southern California. The buyer, Sidford Capital, is a local investment firm with a “boots on the ground” investment strategy focused on adding value to retail, office, warehouse, manufacturing, and storage space. The buyer was procured by Bowlby and Isaac.
“Neighborhood retail has proven to be one of the most sought-after sectors by commercial real estate investors today. We generated a total of ten offers on either/both properties, at a time when most commercial real estate investors were on the sidelines. While each asset has its share of deferred maintenance, these types of value-add retail centers are in short-supply, particularly in the Denver Metro Area” Bowlby said.
Athmar Park Shopping Center, a 58,204-square-foot neighborhood retail center, is located at 1865-1935 West Mississippi Avenue in Denver, Colorado, only five miles from Denver’s central business district. The property was 77.5% occupied at the time of sale and is anchored by Family Dollar.
SouthPark Shopping Center is a 52,938-square-foot neighborhood retail center situated in the affluent southern suburbs of the Denver Metro Area at 131-151 & 201-215 West County Line Road in Littleton, Colorado. The property was 84.5% occupied at the time of sale and is shadow anchored by Dollar Tree and Goodwill.
Ryan Bowlby, senior director, Drew Isaac, senior managing director, in Marcus & Millichap’s Denver office had the exclusive listing to market the property on behalf of the seller, a private investor based in Southern California. The buyer, Sidford Capital, is a local investment firm with a “boots on the ground” investment strategy focused on adding value to retail, office, warehouse, manufacturing, and storage space. The buyer was procured by Bowlby and Isaac.
“Neighborhood retail has proven to be one of the most sought-after sectors by commercial real estate investors today. We generated a total of ten offers on either/both properties, at a time when most commercial real estate investors were on the sidelines. While each asset has its share of deferred maintenance, these types of value-add retail centers are in short-supply, particularly in the Denver Metro Area” Bowlby said.
Athmar Park Shopping Center, a 58,204-square-foot neighborhood retail center, is located at 1865-1935 West Mississippi Avenue in Denver, Colorado, only five miles from Denver’s central business district. The property was 77.5% occupied at the time of sale and is anchored by Family Dollar.
SouthPark Shopping Center is a 52,938-square-foot neighborhood retail center situated in the affluent southern suburbs of the Denver Metro Area at 131-151 & 201-215 West County Line Road in Littleton, Colorado. The property was 84.5% occupied at the time of sale and is shadow anchored by Dollar Tree and Goodwill.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.
