Colorado-Real-Estate-Journal_461157

Page 22 - May 21-June 3, 2025 www.crej.com Retail by Avalon Jacka COLORADO SPRINGS – An unanchored retail strip center in northeast Colorado Springs sold in an all-cash transaction for $11.15 million. CH FSR I Colo Spgs Austin Bluffs LLC, an entity of Dallas- based private equity firm Crow Holdings Capital, acquired Austin Bluffs Shopping Center, located at 3605-3695Austin Bluffs Parkway, from Austin Bluffs LLC inApril, according to SKLD Infor- mation Services. The seller, a private partner- ship, was represented by Parker Brown of CBRE. The property received a “significant amount of interest” from a variety of capital sources, including traditional pri- vate investors, private funds and institutional investors, Brown said. The real estate fund advised by Crow Holdings was selected after a competitive bidding pro- cess. “We are continuing to witness incredible capital flows acceler- ating into the market for unan- chored strip centers,” Brown said. “Traditionally a preferred asset class for high-net-worth inves- tors and 1031 exchange buyers, unanchored strip center prod- uct is now firmly on the radar for a growing variety of private and institutional capital sources eager to make a big splash while deploying capital in the space.” Austin Bluffs Shopping Cen- ter includes two multitenant strip centers, a single-tenant out- parcel and a ground-lease pad totaling 50,099 square feet. The single-story center was built in 1973, according to El Paso County public records. The center was 91.4% occupied at the time of sale with triple-net leases, long-term occupancies and contractual rent increases, Brown said. Other News n AURORA– A20,000-square- foot single-tenant property traded hands for $2.45 million inApril. Sosha Properties LLC pur- chased the property at 13900 E. Mississippi Ave. from 15200 Commerce Partners, according to SKLD Information Services. The asset is fully leased to BioLife Plasma Services and has approxi- mately six years remaining on the absolute triple-net lease. Built in 1987, the asset is situated on nearly one-half acre. Avison Young’s Chris Maling and David Maling and North- marq’s Sam Crowe represented the seller, a California-based lim- ited partnership. The transaction marked the Maling Team’s 18th transaction with the seller. The buyer, a local private investor, was represented by John Fair- bairn of Fairbairn Commercial Inc. “Our team generated multiple offers on this ‘medtail’ asset and achieved the highest price ever paid for a plasma tenant in the greater Aurora market,” Chris Maling said. The asset is positioned within a high-traffic retail center, accord- ing to a statement from Avison Young. Its location at the Inter- state 225-East Mississippi Avenue interchange provides connectiv- ity to the Aurora and Denver areas. BioLife Plasma Services is known for its plasma collection services, vital to many life-saving therapies. n DENVER – A trio of retail condos inWest Highland sold for $3.44 million, or $506.11 per gross building sf, or $1.15 million per retail condo. Buyer 3420 LLC acquired the condos from Elken Family Part- nership LLLP and Julian 32 Group LLC, according to Den- ver County public records. The newly constructed condos are home to nationally recognized tenants Lululemon, Pure Barre and Skin Laundry. Teal Hagan and Brandon Kaufman of Kaufman Hagan Commercial Real Estate repre- sented the seller. Hagan said, “3420 W. 32nd features three newly con- structed retail condos leased to national credit tenants on mid- to long-term leases with exten- sion options. In the heart of the Highlands, this retail investment presents a unique triple-net cash- flowing asset with HOAmanage- ment in an incredible location.” The 6,797-sf asset is positioned at the intersection of West 32nd Avenue and Julian Street, offering proximity to residential and other retail options. n DENVER – Axio Commer- cial Real Estate facilitated two retail deals inApril. Adventure Time Ltd. leased 1,751 sf at The Quayle Build- ing, a multifamily building at 101 Broadway in Denver. Axio’s David Schneider represented the tenants, and Mark Feder of Matthews Real Estate Invest- ment Services represented the landlord, 101 Apartment Devel- opers LLC. Ghale LLC purchased the busi- ness and took over the existing lease of the Sushi-Rama location in 1,407 sf at 2615 Larimer St. Alicia Bernat of Colorado Part- ners Realty Group represented the buyer. Schneider represented the sellers, the Osaka Brothers, in the transaction, which marked the fifth and final Sushi-Rama sale facilitated by Schneider. s Crow Holdings entity buys Austin Bluffs Shopping Center by Avalon Jacka AURORA – A national pick- leball franchise with a focus on community is preparing to open its first Colorado location as the sport’s popularity continues to grow. Ace Pickleball Club is target- ing an early fall opening for the new franchise, located at 6626 S. Parker Road. The club is the sec- ond location for the franchisees, husband and wife Michael and Liz Tanji, who opened an Omaha, Nebraska, franchise this month. “Pickleball truly is a sport for everyone, and we’re thrilled to introduce even more people to the game with our new location,” Liz Tanji said. “Whether you’re picking up a paddle for the first time or looking to sharpen your skills, Ace Pickleball Club is the perfect place to jump in, have fun, and connect with others.” Ohio-based Red Architecture is the architect for the club, and NGC Group Inc. is the general contractor. The interior design is consistent with other franchises around the country. The 30,000-square-foot facil- ity is entirely indoors, allowing for year-round play. The club will include nine fenced courts with a cushioned, professional- grade playing surface, a check-in area and pro shop with grab- and-go snacks and beverages, a small event space, restrooms and changing rooms. The facil- ity will also feature a premium lighting package to reduce glare and play-site cameras to record play. The Tanjis expect to hire about 25 people withmostly part- time positions and some full-time positions. Kyle Framson of The Zall Co. and CBRE’s Keelen Twitty led the tenant representation team for the 10-year lease transaction with landlord Brixmor, which was represented internally. The Tanjis pursued a location in the Denver metro area because they live in the area; they plan to open another franchise in the metro area following the Aurora opening. They chose Omaha for their other location because Liz Tanji was born in Nebraska and knew the area. “It’s the best of both worlds for us,” she said. Ace Pickleball features an all- inclusive membership model with unlimited open play every day for a flat monthly fee, wel- coming players of all skill levels. Memberships also include court reservations, unlimited paddle demos, entry into the Ace Pickle- ball ClubMember Championship Series, and social mixers, events, tournaments and clinics. The Aurora franchise will offer the first month of membership free, allowing customers to test out the facility before committing, as well as Pickleball 101 classes. Ace Pickleball Club has 28 franchises in 19 states across the U.S. Other News n WESTMINSTER – The Orchard Town Center announced it is welcoming five new shop- ping and dining tenants this year Located at 14697 Delaware St., the outdoor shopping, dining and retail destination is owned by TriGate Capital , andmanaged and leased by Vestar. An addi- tional six new tenants debuted last year. The new tenants will all be open by the end of summer. The center is now 94% leased and is projected to add an addi- tional 27,000 square feet of retail, entertainment and dining space this year. Activate, an immersive and interactive gaming destination, opened its 11,000-sf space in Feb- ruary. The concept features high- tech, team-based challenges with both physical andmental aspects. P.F. Chang’s will bring itsAsian- inspired dishes to its 6,700-sf loca- tion in late summer. The concept’s menu features favorites including Chang’s Lettuce Wraps, Mongo- lian Beef and the “Great Wall of Chocolate” dessert. Postino WineCafe is set to open its sixth location, measuring 4,500 sf, in the center in midsum- mer. The dining concept offers approachable-yet-high-quality wines, bruschetta boards, and other Italian-inspired fare. Pandora opened its 3,100-sf space in April. The location fea- tures hand-finished jewelry at affordable prices. Headquartered in Denmark, the company has more than 2,600 stores in more than 100 countries. Making its Colorado debut, Swing 365 opened its 1,000-sf location in May. The state-of- the-art, membership-based golf simulator experience offers 24/7 access to a private suite. n PARKER – A flex/retail building centrally located in Park- er is fully leased following a new lease transaction. Thrive Kickboxing signed a long-term lease for 3,575 sf in Vil- lages at Parker I, located at 10510 Dransfeldt Drive, Units 102-103. The tenant was represented by Ola Wojtyczka of Carson Realty. The landlord, Villages at Parker LLC, was represented by Heath Honbarrier of Trevey Commer- cial Real Estate. The asset features a 3:1,000- sf parking ratio and is a seven- minute drive to E-470, a 15-min- ute drive to Interstate 25 and a 30-minute drive to downtown Denver, according to a leasing brochure. n CASTLE ROCK – A Cal- ifornia-based athleisure brand debuted its first Colorado loca- tion in the Outlets at Castle Rock. Vuori opened its 2,658-sf space at 5050 Factory Shops Blvd., Suite 485, in May. The space is between Second and Third streets, on the east side of the center. Michele Dawson of FFO Real Estate Advisors represented Vuori in its lease transaction with Outlets at Castle Rock owner Craig Realty Group, which was represented by Kathy Santelli, Craig Realty Group senior leasing executive. “We are thrilled to welcome Colorado’s first Vuori outlet, offering premium merchandise at unbeatable prices, right here Ace Pickleball Club plans fall opening for 1st Colo. location Please see Vuori, Page 23 The 30,000-square-foot Ace Pickleball Club facility at 6626 S. Parker Road will include nine indoor courts with a cushioned, professional-grade playing surface.