Colorado-Real-Estate-Journal_316364

Page 18 - December 7-20, 2022 www.crej.com Retail by Jenna Walters WESTMINSTER – A shopping center in Westminster traded hands. Willow Run, the 91,565-square- foot shopping center at 12900- 12910 Zuni St., recently sold for $10.9 million, or nearly $120 per sf. CentrePoint Properties acquired the asset from Willow Run Inves- tors LLC, an entity operated by Gart Properties, which owned the center since 2013. Cushman & Wakefield’s Jon Hendrick- son, Aaron Johnson and Mitch Veremeychik brokered the off- market transaction. Located at the hard corner of Zuni Street and West 128th Ave- nue, Willow Run is home to a mix of tenants, including Frolic Brewing Co. and Big Liquor Ware- house, at the two end cap spaces. The property features ample park- ing and is proximal to Interstate 25. “Willow Run Shopping Center is a quality neighborhood asset located at a fundamentally sound intersection. The center is sur- rounded by residential housing, adjacent to Big Dry Creek Park, and has supporting demographics to suggest the future is bright,” said Hendrick- son. “The local b u s i n e s s e s within the prop- erty focus on the consumer within the sur- rounding com- munity, and those businesses have been met with reciprocal support throughout the last few years.” Other News n DENVER – Denver Commu- nity Church purchased a 1.1-acre property comprising a 10,000-sf gym at 375 S. Zuni St. and devel- opable land at 333 S. Zuni St. in Denver. The buyer acquired the asset from a joint venture between Oxi Fresh Franchising Compa- ny Inc. and BE Properties Corp. for $3.78 million. Transwestern’s Kevin McKinnon, Craig Paton and Alex Shapiro represented DCC in the acquisition, while Jef- frey Wood, Monica Wiley and Colton Reimer of CBRE represent- ed the seller. According to Transwestern, DCC plans to transform the gym building, formerly the practice facility for the Denver Rockets, into a church that will comfortably seat approximately 500 people. It also will develop the vacant land into new offices for the church, Sunday morning children’s minis- try and multipurpose space. “Our church is excited about this property,” said Jon Gettings, executive pastor of DCC. “It will function as the future home for our faith community, allowing us to find ways to be good neighbors in the Valverde and Athmar Park neighborhoods, serve our non- profit partners around the city and world, and as a gathering place for all who call DCC home. We are very thankful to the Transwestern team for their incredible work in helping us find and close on this property!” The acquisition comes after DCC sold its former 18,155-sf church property at 1101 S. Wash- ington St. earlier this year. DCC sold the property to Restoration Church for $3.1 million in a trans- action brokered by McKinnon and Paton. n LAKEWOOD – Outdoor gear and apparel retailer Sierra opened a new store location in Lakewood after signing a new lease agreement at the Bel- leview Shores shopping center. The retailer, selling apparel, footwear and gear at up to 60% less than department and specialty store prices, opened a 15,315-sf store at 5822 S. Wad- sworth Blvd. Company repre- sentatives declined to disclose the lease term or brokerage firm involved in the transac- tion. When asked why Belleview Shores was selected for the new location, Sierra Vice Presi- dent and Marketing Director Gennifer Hobbs said the retail- er is always assessing its real estate strategies and exploring new areas that align with its mission and offering, and the decision to open at Belleview Shores was a direct reflection of that approach. “Colorado is quite familiar with the Sierra experience, so we are thrilled to be opening our newest store location in the Lakewood community,” Hobbs added. “Whether shoppers are hitting the slopes outside of the city, enjoying walks in one of the many beautiful parks or taking the family out on a fishing trip, Lakewood makes enjoying the outdoors very Investor buys multitenant shopping center in Westminster For inquiries contact: John Burke | City of Westminster Economic Development Department jburke@cityofwestminster.us | 303-658-2021 DowntownWestminster.us Located between Denver and Boulder, Westminster’s new downtown will be a civic, cultural and economic hub. With capacity for well over 10 million square feet of development, Downtown Westminster will continue to grow and evolve — BE A PART OF IT! The Willow Run shopping center is under new ownership. Jon Hendrickson Please see Sierra, Page 19