The Summer Valley Shopping Center in Aurora sold this month for $20.4 million.
The 1980s-era center at the corner of East Quincy Avenue and South Buckley Road, which spans over 95,600-square-feet, is 99% leased, with 18 tenants.
Those occupants include gym VASA Fitness, fried chicken chain KFC, a Huntington Bank location, a Dollar Tree store, Thai restaurant Thai Garden, nail salon LM Nails and medical spa Magic Beams SPA.
Jon Hendrickson, executive director of Cushman & Wakefield’s Colorado investment sales team, described the site as “well leased ever since the years that Safeway served as the anchor tenant to presently with Vasa Fitness and Dollar Tree filling that role,” in a Monday news release.
The commercial real estate services firm identified the majority of its tenants as on the property for five years of longer.
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Cushman & Wakefield represented the seller, Arbor Plaza LLC. The news release didn’t specify a buyer except for Hendrickson’s description of one that can provide “long-term, patient capital.”
Magazine Shopping Center Business reported the undisclosed buyer worked with Denver commercial mortgage banking firm Essex Financial Group to secure “$13 million in financing” for the purchase. Representatives of the firm didn’t immediately respond to requests for confirmation and further comment.
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