{"id":1004684321,"date":"2023-10-03T07:04:24","date_gmt":"2023-10-03T15:04:24","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004684321"},"modified":"2023-10-03T07:04:25","modified_gmt":"2023-10-03T15:04:25","slug":"denver-area-retail-asset-trades-for-20m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/denver-area-retail-asset-trades-for-20m\/","title":{"rendered":"Denver-Area Retail Asset Trades for $20M"},"content":{"rendered":"
\"Built<\/a>

Built in the 1980s, Summer Valley Shopping Center was renovated and modernized over the years. Image courtesy of Cushman & Wakefield<\/em><\/p><\/div>\n

Arbor Plaza LLC<\/strong> has sold Summer Valley Shopping Center, a 95,669-square-foot retail center<\/a> in Aurora, Colo., for $20.4 million. Cushman & Wakefield<\/strong> brokered the transaction on behalf of the seller.<\/p>\n

Arbor Plaza purchased the asset back in 2018 for $19.7 million, according to CommercialEdge data. Independent Bank provided a $12.5 million acquisition loan, the same source shows.<\/p>\n

Vasa Fitness and Dollar Tree are the anchor tenants at the property, which was 99 percent leased at the time of the sale. The roster also includes Hana Sushi, T-Mobile, State Farm, Blackjack Pizza and Thai Garden. A total of five tenants have been at the property for more than 15 years, while 14 tenants have been there for around five years.<\/p>\n

Summer Valley Shopping Center encompasses two buildings, on an 8.1-acre site on the northeast corner of E. Quincy Avenue and S. Buckley Road, in the Carriage Place neighborhood. The property underwent several renovations since its construction in the 1980s.<\/p>\n

Executive Directors Jon Hendrickson and Aaron Johnson and Senior Associate Mitch Veremeychik comprised the Cushman & Wakefield broker team.<\/p>\n

Denver\u2019s retail sector showed resilience throughout the second quarter, according a CBRE report. The construction pipeline exceeded 410,000 square feet, while a total of 233,000 square feet of space delivered during the first six months of the year. Meanwhile, sales volume totaled $153.4 million for the second quarter, while asking rents clocked in at $19.77 per square foot, the same source shows.<\/p>\n","protected":false},"excerpt":{"rendered":"

Vasa Fitness and Dollar Tree anchor the 95,669-square-foot property. <\/p>\n","protected":false},"author":3014,"featured_media":1004684322,"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":[37007,32799,39086],"class_list":["post-1004684321","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-denver","category-investment","category-latest","category-retail","category-west","tag-aaron-johnson","tag-cushman-wakefield","tag-independent-bank"],"acf":[],"yoast_head":"\nDenver-Area Retail Asset Trades for $20M - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Arbor Plaza LLC has sold Summer Valley Shopping Center, a 95,669-square-foot retail center in Aurora Colo., for $20.4 million.\" \/>\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\/denver-area-retail-asset-trades-for-20m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Denver-Area Retail Asset Trades for $20M\" \/>\n<meta property=\"og:description\" content=\"Arbor Plaza LLC has sold Summer Valley Shopping Center, a 95,669-square-foot retail center in Aurora Colo., for $20.4 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/denver-area-retail-asset-trades-for-20m\/\" \/>\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=\"2023-10-03T15:04:24+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-03T15:04:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/10\/SummerValley-Main-Photo-e1696338480566.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1849\" \/>\n\t<meta property=\"og:image:height\" content=\"1386\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Diana Firtea\" \/>\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\/denver-area-retail-asset-trades-for-20m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/denver-area-retail-asset-trades-for-20m\/\",\"name\":\"Denver-Area Retail Asset Trades for $20M - 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