Colorado-Real-Estate-Journal_403667

June 5-18, 2024 - Page 19 www.crej.com Retail by Avalon Jacka WESTMINSTER – A local arcade bar has signed a lease for a new space at Sheridan Cross- ing. The 1Up Arcade Bar leased 10,270 square feet at the shop- ping center, located at 4750 W. 120th Ave., from landlord Nor- man L. & Carol A. Cowden Revocable Trust in April. The second-generation restaurant space includes a custom-built bar, a full commercial kitchen, patio seating and ample park- ing. The tenant plans to move into the space before the end of 2024. Shawn Sanborn of Sanborn and Co. repre- sented the ten- ant in the trans- action. Lexie Rhodes of Pan- orama Com- mercial Group represented the landlord. The space had been listed for lease for years with no trac- tion but ended up signing the new tenant within a month of Panorama Commercial acquir- ing the listing, a statement from Panorama Commercial said. The original 1Up Arcade Bar is located in Lower Down- town, allows for all ages, and features 45 arcade games, 16 pinball machines and three Skee-Ball lanes. The concept has additional locations on Colfax in Denver’s Capitol Hill neigh- borhood – a 21-and-up location with 60 arcade games, 30 pin- ball machines and five Skee-Ball lanes – and in Greenwood Vil- lage – a family friendly loca- tion with 90 arcade games, 28 pinball machines, and six Skee- Ball lanes. Each existing loca- tion includes a full bar and food options. Other News n ARVADA – A national awards supplier franchise has signed a lease at Fairlanes Shop- ping Center. Doing business as Crown Tro- phy, Four-M Arvada LLC leased 4,726 square feet at 6520 Wad- sworth Blvd., Suite 209, from landlord Fairlanes Shopping Center LLC. Dan Prevedel and Jake Mal- man of Malman Commercial Real Estate represented the landlord, while the tenant was unrepresented in the transac- tion. n COLORADO SPRINGS – A retail center in the northeast Col- orado Springs submarket is fully leased following its landlord’s most recent lease deal. New tenant 3 Lions Muay Thai Ltd. signed a long-term lease for 4,240 sf at the Shops at Academy Point, located at 6406- 6430 N. Academy Blvd. The ten- ant, an established martial arts and related services provider, expects to open its space at 6422 N. Academy Blvd. in the fall. Nick Beach and Nick Nicker- son of Trevey Commercial Real Estate represented the landlord, Academy Points LLC. Chris Morrison of Action Team Real- ty represented the tenant. The prime retail space is locat- ed on the high-traffic southwest corner of North Academy Bou- levard and Dublin Boulevard. Built in 2006, the shopping cen- ter features high ceilings, front- age along Academy Boulevard, and quick connectivity to the greater Colorado Springs area via Interstate 25, according to Trevey Commercial’s website. n DENVER – A national cus- tom suit maker and clothier has expanded from a 150-sf show- room to a 4,000-sf store in Cher- ry Creek. Balani Custom Clothiers opened its new space at 301 University Blvd. in May. Bal- ani offers custom suits, sport coats, tuxedos, separates, acces- sories, outerwear, shoes and casual menswear. Despite the region’s laid-back style, Balani has become integral in the local men’s clothing community, styl- ing many of Denver’s profes- sional athletes and local TV per- sonalities, a statement from the company said. “In a market that has previ- ously embraced a more laid- back vibe, we are excited to see a shift toward elevating men’s style to the next level in Colo- rado,” said Balani CEO Sonny Balani. “During the pandemic, our Cherry Creek showroom was the best-performing market across the U.S., far exceeding expectations, and has continued to increase in revenue every year since.” Founded in 1961, Balani opened its original Denver showroom in 2018. The loca- tion saw 115% sales growth in 2021 and averaged 60% growth each year since opening. The increased demand prompted Balani to open its new Cherry Creek store. Solveig Lawrence of Kent- wood Commercial represented Balani in its lease with landlord 301 University LLC, with Cush- man & Wakefield representing the landlord. The engineering, architecture and design on the build-out was handled exclusively by Balani. Balani showroom designs main- tain a uniform luxury experience across all locations while includ- ing “unique flairs to resonate with local clientele,” a statement from the company said. The Cherry Creek location features three distinctive accent walls: a statement wall decorated with vintage skis, a nod to Colorado’s ski culture; a “living” greenery wall reflecting Colorado’s out- door lifestyle; and a map wall illustrating the global origins of Balani’s textiles. n COLORADO SPRINGS – Modern Market has opened a new location off Powers Boule- vard. The 2,943-sf store, located at 3015 New Center Point, features the first drive-thru for the brand. The space also includes a dou- ble-sided line for order assembly to enable faster service between in-restaurant, drive-thru, online and catering orders. Karm Wahab Architecture served as the project architect, and Sharp Construction served as general contractor. Chris Cheek and Courtney Key of SullivanHayes Broker- age brokered the direct lease The 1Up Arcade Bar leases space for northern metro location First American Exchange is a Quali ed Intermediary and is precluded from giving tax or legal advice. Consult with your tax or legal advisor about your speci c circumstances. First American Exchange Company, LLC makes no express or implied warranty respecting the information presented and assumes no responsibility for errors or omissions. First American, the eagle logo, First American Exchange Company, an d rstam.com are registered trademarks or trademarks of First American Financial Corporation and/or its af liates. ©2019 First American Financial Corporation and/or its af liates. All rights reserved. NYSE: FAF 800.833.4343 q www. rstexchange.com Looking to get the most out of your next 1031 exchange? We understand the real estate landscape is ever-changing,and so is your real estate portfolio. Through nancial strength, solid credentials and expert handling of your tax-deferred exchange, we help you reap the rewards of your investment. Steve Chacon, CPA CES® , Vice President 303.876.1161 | schacon@firstam.com Please see Modern, Page 23 Lexi Rhodes