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6/02/21
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Neighborhood Equities LLC purchased a portfolio of three multi-tenant shopping center properties located in Northern Colorado for $10.12 mil. Combined, the assets total just over 60k sf and include Oakridge Shopping Center in Fort Collins, and The Shops at Westwood and Windsor Town Center II, which are both located in Windsor.
1215 Main Street, Windsor |
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Following is information on each property:
• Oakridge Shopping Center is a 21.6k sf property located at 1112 Oakridge Drive in Fort Collins. Built in 1996, it is 80% occupied and provides excellent visibility near East Harmony Rd, a major thoroughfare. It is located roughly six miles to US Interstate 25 and five miles to Colorado State University.
• The Shops at Westwood is a fully occupied, 18.4k sf property located at 1293-1295 Main St in Windsor. Built in 1998, the center is highly visible along Main St. The asset is located within eight miles to US Interstate 25 and 30 miles to Colorado State University.
• Windsor Town Center II is a fully occupied, 20.3k sf property located at 1215 Main St in Windsor. Built in 1999, the center is also well-located along major thoroughfare, Main St.
David Maling, Chris Maling and Sam Crowe with Avison Young represented the seller, Colorado-based Johnson Investments Inc. The buyer was repped by Cushman & Wakefield.
“These neighborhood center properties are located in Northern Colorado, an affluent submarket that rarely sees assets like this come to market,” said Crowe. “The new ownership will have an opportunity to lease up the small amount of available space and create value with new tenants and as values rise over the long-term.”
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