By IvyLee Rosario
One Liberty Properties Inc. sold its vacant Greenwood Village, Colo. property for $9.1 million. The asset was previously occupied by Sports Authority. The company anticipates that the gain from this sale will be $6.5 million.
According to The Denver Post, outdoor retailer REI is relocating its Centennial store to the 45,000-square-foot location at 9000 E. Peakview Ave., just east of Interstate 25. The company’s move from 9637 E. County Line Road in the Centennial Promenade shopping center is planned for the fall.
“This sale of a vacant property is another example of our team’s ability to harvest value from well underwritten assets,” said Patrick Callan, Jr., president & CEO of One Liberty Properties, in prepared remarks. “When the Company purchases an asset it invests a meaningful amount of time and effort into fully understanding the underlying real estate. This positions One Liberty to create value through the sale or re-leasing of an asset when a tenant departs. In this situation, the company was able to realize a gain of $6.5 million.”
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