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3/15/16
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An unnamed family trust has purchased Independence Square, a 43.8k sf shopping center in Wheat Ridge, CO. The property, located at 4980 and 4990 Kipling St, north of I-70 and west of Wadsworth Blvd, was sold by the Ann Hurley Hodgdon Trust.
Independence Square is 78 percent leased to 16 tenants at below-market rates. Notable tenants include Vert Kitchen, Luke’s, A Steak Place and Subway. A newly constructed Natural Grocers by Vitamin Cottage sits just south of the property.
The center consists of two prominent retail buildings on 4.67 acres at the southeast corner of West 50th Ave and Kipling St. Built in 1984 and renovated in 2008, Independence Square is located near the future Gold Line light rail station. This station will bring 11.2 miles of RTD train service from Union Station through Northwest Denver, Adams County and Arvada, with the end-of-the-line stop located in Wheat Ridge.
Brad Cohen and Larry Thiel of Transwestern’s Denver Capital Markets Group brokered the transaction on behalf of the seller.
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