Colorado-Real-Estate-Journal_458969

Page 20 - May 7-20, 2025 www.crej.com Retail BUILDING PROJECTS THAT Precision Contractors is a national commercial general contractor that has proudly served the commercial construction needs of clients across the US since 2005. From new ground-up construction to renovations and tenant improvement projects, the Precision team has the experience and expertise to help commercial developers, entrepreneurs and construction managers maximize the return on their portfolios. MARKETS WE SERVE: Retail - Industrial/Warehouse Hospitality - Healthcare - Professional O ces by Avalon Jackae DENVER – A Tennessee-based homestyle restaurant opened its first new Colorado location in nearly three decades. The Central Park Cracker Barrel Old Country Store Inc. restaurant at 9111 E. 40th Ave. opened in April. The location is positioned in Runway 35 South, a retail shop- ping center developed by Ever- green Devco Inc. The building is 9,092 square feet, according to Denver County public records. The store is the company’s fifth Colorado store, joining locations in Colorado Springs, Loveland, Northglenn and Pueblo. “We are thrilled to bring our mission of ‘pleasing people,’ our high-quality homestyle food, and our unique retail experience to Denver’s Central Park neigh- borhood,” said General Man- ager Liliana Martinez. “It is an honor to create a home away from home for every guest who walks through our doors, and we are eager to serve our new neighbors in Central Park.” The new store added more than 150 jobs to the area. The company further demonstrated its com- mitment to the local community by making a $30,000 donation to Food Bank of the Rockies. The Central Park location is open seven days a week and offers sit-down services, traditional in- store pickup, curbside pickup and delivery options. Established in 1969, Cracker Barrel and its affili- ated operate 660 company-owned locations in 43 states. The com- pany owns the fast-casual Maple Street Biscuit Co., with locations in 10 states in the South, South- east and Appalachian Mountain regions. Other News n PARKER – A 26,000-square- foot retail building traded hands for $2.7 million in April. The Stagecoach Building, situ- ated on 1.77 acres at 18632 Pony Express Drive, was acquired by 18632 Pony LLC from Pony Express LLC. The seller was represented by David Marulli of Trevey Com- mercial Real Estate. The buyer was represented by James West of Black Diamond Commercial Real Estate. Land Title Guaran- tee Co. helped to execute the clos- ing. Built in 2001, the property is zoned PD for commercial, light- industrial, residential, office and retail uses, according to Trevey’s website. n METRO DENVER – Blue West Capital facilitated two retail acquisitions in the Denver metro area. In Aurora, an undisclosed local investor bought a 5,383-sf Hooters restaurant location at 2601 S. Park- er Road in an all-cash deal for $2.3 million in March. The property sold at a 5.87% cap rate, the low- est recorded for a Hooters prop- erty sold since 2022, according to CoStar data. Blue West’s Josh Lorenzen and Tom Ethington represented the seller, and In Kim with RH Broker represented the buyer in the trans- action. The property went under contract two weeks after going on the market, according to a state- ment from the firm. The transac- tion was completed from listing to closing in four months, Lorenzen said. “We quickly attracted multi- ple interested buyers, with most inquiries coming from local inves- tors familiar with the site,” said Lorenzen. “Despite the news of Hooters’ bankruptcy mid-con- tract, we successfully navigated the process without any impact on pricing. This deal underscores the continued demand for well- located retail assets with at- or below-market rents.” The property benefits from below-market rents; high acces- sibility and visibility to more than 43,000 vehicles per day on South Parker Road; and strong market fundamentals. The submarket is home to more than 165,000 resi- dents and an average income of $100,645 within a 3-mile radius. In Denver, an undisclosed local investor purchased a children’s bookstore at 1445 S. Pearl St. in an all-cash transaction for $1.29 million, or $732 per sf, in March. The buyer is a bookstore opera- tor that plans to continue run- ning the business under the same name, Second Star to the Right. The buyer aims to preserve the store’s legacy and community presence. Blue West’s Loren- zen and Robert Edwards represented both the buyer and seller in the transaction. “Nearly everyone we spoke with – property owners and resi- dents alike – knows and loves this store, and they’re excited to see it stay part of the neighborhood,” Lorenzen said. “This marks the third property we’ve sold along South Pearl Street in the past eight months, and demand continues to be strong.” The team’s additional recent transactions along South Pearl Street include the sale of the Han- son’s Grill & Tavern at 1301 S. Pearl St. and 1568-1570 S. Pearl St., according to previous reporting. The Blue West team currently has another property available for sale Cracker Barrel Old Country Store debuts 5th Colo. location Please see Blue West, Page 45 Cracker Barrel Old Country Store’s new location at 9111 E. 40th Ave. added more than 150 jobs to the area. Tom Ethington Josh Lorenzen Robert Edwards