Colorado-Real-Estate-Journal_536826

July 1-14, 2026 - Page 19 www.crej.com Retail by Avalon Jacka HIGHLANDS RANCH – A 94,795-square-foot grocery anchored shopping center in the Southridge neighborhood traded hands for $37.1 million in June. Regency Centers acquired Shops at Highland Walk, situated on 8.46 acres at 4000 Red Cedar Drive, from Shea Properties. Jon Hendrickson and Aaron Johnson of Cushman & Wakefield repre- sented the seller in the transaction. “Shops at Highland Walk is the prototype of grocery-anchored centers in Colorado,” Hendrick- son said. “Every retail investor would want the center in their portfolio, but only one buyer can prevail. Shea Properties built and cared for a tremendous asset and selected the perfect steward for the Highlands Ranch community as the purchaser.” Anchored by King Soopers, Shops at Highland Walk includes two multitenant inline buildings flanking the grocery store and four additional outparcel buildings on the perimeter. Built in 2003, the property is 98% leased to 17 ten- ants. “The Kroger, King Soopers and City Market brands in our state have really separated from the rest, and investors know that,” Hendrickson said. Positioned at the intersection of Fairview and East Wildcat Reserve parkways, the property is surrounded by a “very stable, high-income neighborhood popu- lation base,” Hendrickson said. “It was an extremely high- demand offering as a traditional marketing campaign with respect to calling for offers, etc.,” Hen- drickson said. “I think the trend for grocery-anchor assets is that it’s become more and more institu- tional. A lot of the historic private capital ownership profiles that have owned grocery-anchored (assets), or that would want to own more, struggle to compete for those acquisitions in today’s market, being up against a cost of funds and buyer profile that is incredibly strong.” The property will be a long- term hold for Regency Centers, a national owner, operator and developer of shopping centers positioned in suburban trade areas. In December, the company acquired land in Lone Tree for $4.15 million to develop a King Soopers-anchored shopping cen- ter in the Ridgegate planned com- munity. Headquartered in Jack- sonville, Florida, Regency Centers has offices in Denver; Atlanta; Charlotte, North Carolina; Chi- cago; Cincinnati; Dallas, Houston and Austin, Texas; Los Angeles, San Diego, San Francisco, Long Beach, and Serramonte, California; Miami, Boca Raton, and Tampa, Florida; and Seattle. Aliso Viejo, California-based Shea Properties is a diversified real estate company that focuses on the acquisition, design, development, construction, leasing and manage- ment of business parks, shopping centers, apartment communities and mixed-use environments. The company is currently redevelop- ing an office building near the Denver Tech Center into multi- family housing. Shea Properties is “a large con- tributor to the Highlands Ranch community, and I think their deci- sion to sell this asset was not taken lightly,” Hendrickson said. “Fur- ther, the buyer that was selected to own the center was not taken lightly because (Shea Properties) wants to continue to see High- lands Ranch thrive.” s Regency Centers buys Shops at Highland Walk for $37.1M by Avalon Jacka FORT COLLINS – A pair of pri- vate real estate firms purchased a 56,214-square-foot shopping cen- ter in southwest Fort Collins in an off-market transaction in June. Big Ben Funds and Capital Asset Management acquired Drake Crossing, located at 2100 W. Drake Road, for $12.15 million from Alpine Investment Group LLC. Jason Schmidt and Austin Snedden of JLL Capital Markets represented the seller in the trans- action, while the buyers did not have representation. “The market continues to dem- onstrate significant appetite for grocery-anchored and shadow- anchored opportunities, reflect- ing the asset class’s fundamental strength,” Snedden said. Constructed between 1983 and 1987, the three-building shopping center is 96% leased to a vari- ety of local and national tenants, including Subway, Joseph’s Hard- ware Store, Intersect Brewery, Poudre Pet & Feed Supply and more. Drake Crossing is shadow anchored by Safeway and Wal- greens. The buyers plan to invest in cap- ital improvements and introduce “synergistic tenants to strengthen the center and surrounding neigh- borhood,” a JLL representative said. The asset benefits from its loca- tion at the intersection of West Drake and South Taft roads, amid dense residential neighborhoods. The property is situated near Spring Canyon Park, Horsetooth Reservoir and other recreation areas. Big Ben Funds is an investment and asset management firm spe- cializing in commercial real estate and middle market business acquisitions across North Amer- ica. The firm invests in multiple asset classes and markets, with a focus on Arizona and Colora- do. Its portfolio includes Quebec Square in Denver. Phoenix-based Capital Asset Management is a commercial real estate firm founded in 2009. The company manages more than 139 properties and 8 million sf across asset types, including retail, office, industrial and medical, in Arizona, Nevada, California and Hawaii. The firm offers property management, brokerage develop- ment and capital markets services. Sun Valley, Idaho-based Alpine Investment Group LLC is a pri- vately held boutique investment firm. Its Colorado projects include Drake Crossing, 9797 W. Colfax Ave. in Lakewood, and North Bear Plaza in Lakewood, which sold for $10.35 million in September. Other News n PARKER – A 2.83-acre com- mercial land parcel in the Newlin Meadows neighborhood sold for $1.5 million in June. Pick N Tap bought the property at 11735 Disha Drive from Parker Homestead Investments. Mitch Trevey of Trevey Commercial Real Estate represented the seller, while the buyer did not have a broker representative. First Integ- rity Title Co. helped to facilitate the transaction. The buyer plans to bring a new pickleball concept to the Parker market at the site. Construction is expected to begin soon. The property is positioned at the intersection of South Chambers and Double Angel roads. The site is adjacent to two residential com- munities and three other recently sold commercial lots that will be home to a gas and convenience store, a multitenant retail develop- ment and a childcare provider. n THORNTON – A 10,956-square-foot multiten- ant retail center northwest of the Washington Street-Thornton Park- way intersection sold for $4.73 mil- lion, or $432 per sf. CL Shops at HighPointe Park Co LLC acquired The Shops at HighPointe Park, located at 9645 Washington St., from The Oak Group LP in June, according to Adams County public records. Blue West Capital’s Eric Diesch and Bryce McNeely represented the seller, an out-of-state private investor, in the transaction. “Having the opportunity to sell HighPointe Park more than a decade after first working on the property is a rewarding full- circle moment for me personally,” Diesch said. “Transactions like this highlight the importance of long- term relationships and creating value for clients over time.” The targeted marketing process generated strong interest from local, regional and institutional investors and five qualified offers. The asset sold at asking price. The buyer, an institutional investor, was seeking unanchored retail strip centers. “This transaction marks the sev- enth unanchored retail strip center Blue West Capital has sold over the past 12 months,” McNeeley said. “We generated multiple com- petitive offers, reflecting continued investor demand for well-located neighborhood retail assets and the limited supply available in today’s market.” Positioned at a signalized inter- section, The Shops at HighPointe Park benefits from visibility to more than 62,000 vehicles per day. The property was fully leased at the time of sale to a diverse mix of national and regional ten- ants, including Wingstop, Jimmy John’s, Verizon Wireless, TCBY, Jr. Smiles and Crane Games. Thornton continues to experi- ence strong population growth and an average household income exceeding $115,000 within a 5-mile radius. n DENVER – A historic build- ing in the Santa Fe Arts District traded hands for $1.89 million, or $303 per sf, in May. Main Street LLC purchased the 6,250-sf building at 833 S. Santa Fe Drive from Colorado Photo- graphica LLC, according to Den- ver County public records. Deb- bie Brinkman of Pinnacle Real Estate Advisors LLC represented Main Street LLC, led by Merrill Stillwell. Built in the 1920s, the asset was formerly owned and occupied by Colorado photographer John Fielder, serving as both his pho- tography studio and gallery. Field- er purchased building in 2010 after occupying it since 2006. “The historic John Fielder build- ing in the heart of the Santa Fe Arts District was a special oppor- tunity,” Stillwell said. “Transac- tions are not easy in this market environment, and working with Debbie Brinkman was key to our success. We are excited to work with the Skylight venue operator to make this a beautiful gathering space for people and art for years to come.” The property’s current tenant, Skylight, hosts events and celebra- tions. “The opportunity to continue to serve the community and main- tain a strong commitment to the art culture was important to the buyer,” Brinkman said. n DENVER – Malman Real Estate facilitated two retail trans- actions in central Denver in May. In the Ballpark neighborhood, Xipe Totec Holdings LLC acquired a 5,175-sf retail property at 2223 and 2227 Larimer St. from The Estate of Dorothy J. Rosenblatt for $870,000. Malman Real Estate’s Jake Malman repre- sented the seller, while the buyer was unrepre- sented. In the River North Art District, Perfect Timing Concepts signed a lease for 2,876 sf at 1950 35th St. with landlord RiNo Art District. Malman Real Estate’s Nick Yockey represented the tenant. The landlord was rep- resented by Dustin Whistler of Forte Commercial Real Estate . s Big Ben, CAM acquire Drake Crossing for $12.15 million Anchored by King Soopers, Shops at Highland Walk includes two mul- titenant inline buildings flanking the grocery store and four additional outparcel buildings at 4000 Red Cedar Drive. Jon Hendrickson Aaron Johnson Constructed between 1983 and 1987, the 56,214-square-foot Drake Crossing is 96% leased to a variety of local and national tenants. Eric Diesch Bryce McNeely Jake Malman