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9/30/24
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Harmony Commons, a modern 25.7k sf neighborhood shopping center in Fort Collins, CO, traded for $14 mil, or $545/sf. Built in 2017, the unanchored neighborhood center consists of two multi-tenant, single-story retail buildings that are currently 87% occupied by eight tenants, comprising a strong tenant mix with an emphasis on food and beverage.
Well positioned at 3541 and 3581 Harmony Rd, one of the city’s main arterials, the highly visible location provides access to the highest population growth in the city. The neighborhood center also sits at the signalized intersection of Harmony Rd and Lady Moon Dr, which sees approximately 102,000 vehicles per day—the daytime population is also a significant contributor to the daily traffic. Harmony Commons is also surrounded by several major employers.
Cushman & Wakefield’s Jon Hendrickson, Aaron Johnson, and Mitch Veremeychik represented the seller, Denver based Urban Village, in the transaction. The buyer was repped by Joshua Guernsey of Waypoint Real Estate.
“Harmony Commons is the current prototype of an unanchored inline retail center,” noted Hendrickson. “There is an emphasis of food and beverage, which continues to flourish in this location given the surrounding residential population base and daytime employment drivers.”
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