{"id":1004635705,"date":"2022-12-16T06:17:50","date_gmt":"2022-12-16T14:17:50","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004635705"},"modified":"2022-12-16T06:17:52","modified_gmt":"2022-12-16T14:17:52","slug":"westwood-acquires-denver-area-retail-center","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/westwood-acquires-denver-area-retail-center\/","title":{"rendered":"Westwood Acquires Denver-Area Retail Center"},"content":{"rendered":"
\"The<\/a>

The Shops at Walnut Creek. Image courtesy of Business Wire<\/p><\/div>\n

Westwood Financial<\/strong> has acquired The Shops at Walnut Creek, a 225,224-square-foot, grocery-anchored retail center in Westminster, Colo.<\/p>\n

CBRE<\/strong> Executive Vice President Brad Lyons brokered the transaction on behalf of the seller, InvenTrust Properties<\/strong>. According to CommercialEdge data, the company picked up the asset back in 2015 for $57.1 million.<\/p>\n

Shadow-anchored by a Super Target<\/strong> store, The Shops at Walnut Creek was 94 percent leased at the time of the acquisition. The property\u2019s tenant roster includes TJ Maxx<\/strong>, HomeGoods<\/strong>, PetSmart<\/strong> and Dollar Tree<\/strong>, among many others. In a prepared statement, Westwood Financial CEO Mark Bratt said that the shopping center\u2019s mix of tenants place it among the dominant retail centers in the northwest Denver metro.<\/p>\n

\n

READ ALSO:<\/strong> Sizing Up Retail Real Estate\u2019s Prospects at ICSC<\/a><\/p>\n

\n

The Shops at Walnut Creek occupies more than 25 acres at 10449 Town Center Drive, adjacent to the intersection of Denver Boulder Turnpike and Highway 22. The property is roughly 14 miles northwest of downtown Denver and some 16 miles south of downtown Boulder, in an area where car traffic reaches more than 94,000 vehicles per day.<\/p>\n

According to retail traffic data firm Placer.ai<\/em>, the shopping center is exposed to approximately 60,000 visits per week, serving an area where population growth is expected to increase by 2 percent per year over the next four years.<\/p>\n

Recent PwC insights<\/a> show that, in the year to come, retail transactions are expected to focus on higher-quality assets, targeting good locations that have experiential retail offerings. Flight to quality will be playing a significant role in future retail investor interest.<\/p>\n","protected":false},"excerpt":{"rendered":"

The property previously traded in 2015 for more than $57 million. <\/p>\n","protected":false},"author":3030,"featured_media":1004635706,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1587,21783,21742,21749,15],"tags":[32789,33161,33614],"class_list":["post-1004635705","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-denver","category-investment","category-latest","category-retail","category-west","tag-cbre","tag-inventrust-properties","tag-westwood-financial"],"acf":[],"yoast_head":"\nWestwood Acquires Denver-Area Retail Center - CPE<\/title>\n<meta name=\"description\" content=\"Westwood Financial acquired The Shops at Walnut Creek, a grocery-anchored retail center in Westminster, Colo., from InvenTrust Properties.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/westwood-acquires-denver-area-retail-center\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Westwood Acquires Denver-Area Retail Center\" \/>\n<meta property=\"og:description\" content=\"Westwood Financial acquired The Shops at Walnut Creek, a grocery-anchored retail center in Westminster, Colo., from InvenTrust Properties.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/westwood-acquires-denver-area-retail-center\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2022-12-16T14:17:50+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-16T14:17:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/12\/The-Shops-at-Walnut-Creek.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"795\" \/>\n\t<meta property=\"og:image:height\" content=\"597\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Raluca Toma\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/westwood-acquires-denver-area-retail-center\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/westwood-acquires-denver-area-retail-center\/\",\"name\":\"Westwood Acquires Denver-Area Retail Center - CPE\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/westwood-acquires-denver-area-retail-center\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/westwood-acquires-denver-area-retail-center\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/12\/The-Shops-at-Walnut-Creek.jpg\",\"datePublished\":\"2022-12-16T14:17:50+00:00\",\"dateModified\":\"2022-12-16T14:17:52+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/1e908d9381f3929d1d57f95e4db8c529\"},\"description\":\"Westwood Financial acquired The Shops at Walnut Creek, a grocery-anchored retail center in Westminster, Colo., from InvenTrust Properties.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/westwood-acquires-denver-area-retail-center\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/westwood-acquires-denver-area-retail-center\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/westwood-acquires-denver-area-retail-center\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/12\/The-Shops-at-Walnut-Creek.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/12\/The-Shops-at-Walnut-Creek.jpg\",\"width\":795,\"height\":597,\"caption\":\"The Shops at Walnut Creek. 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