Colorado-Real-Estate-Journal_463660

June 4-17, 2025 - Page 19 www.crej.com Retail by Avalon Jacka LONGMONT – A local family investment firm acquired a Safe- way shadow-anchored shopping center on Ken Pratt Boulevard in a 1031 exchange. Nectar Equities bought Diago- nal Marketplace, located at 980, 1020 and 1100 Ken Pratt Blvd., from California-based Starboard Realty Advisors for $10.1 million in May, according to Nectar Equi- ties Director of Acquisitions Jus- tin Fast. CBRE’s Matt Hendricks and Parker Brown brokered the real estate transaction, and Essex Financial Group facilitated addi- tional financing for the deal with FirstBank. “The acquisition of Diagonal M a r k e t p l a c e provided a unique oppor- tunity for us to acquire a well- located, gro- cery shadow- anchored retail center space offering both strong in-place cash flow and meaningful value-add potential, at a basis well below replacement cost,” Fast said. The transaction comprised 35,658 square feet of in-line neigh- borhood strip center on either side of the Safeway and a mul- titenant pad building. The site is highly visible from Ken Pratt Boulevard, driving visitor counts to more than 1 million guests annually, Fast said. Nectar Equities will implement a comprehensive capital improve- ment plan for the asset, including roof and HVAC replacements, parking lot repairs, and façade upgrades. The firm will begin marketing the remaining vacan- cy, adjacent to the Safeway, with plans to white-box and demise the space into smaller, more func- tional suites, Fast said. Going under contract, property occupancy was 61%, and through the due diligence period, two new tenants signed leases at Diagonal Marketplace, bringing the current occupancy to 85%, according to Fast. Based in Denver, Nectar Equi- ties has additional holdings in Colorado and Arizona. The firm purchased a portion of Oakbrook Shopping Center, positioned at County Line Road and Broadway in Littleton, in November. Sold to multiple buyers, the center was disposed of by Sidford Capital for a total of $13.5 million, accord- ing to previous reporting. The Diagonal Marketplace acquisition complemented the firm’s invest- ment thesis and its existing port- folio, Fast said, noting the firm is “actively pursuing” additional retail opportunities. “Nationally, we continue to see compressing vacancy, a lack of new supply, and strong recov- ering demand post-COVID for these retail tenants, so we’ve looked to capitalize on that,” Fast said. “We remain bullish on North- ern Colorado,” Fast added. “With limited new retail supply continu- ing to compress vacancy rates, we believe well-located, functional retail space is positioned to per- form well despite the turbulent macroeconomic environment.” Other News n PARKER – A retail building off South Parker Road, formerly home to La-Z-Boy, traded hands for $5.5 million in May. Journey Church Colorado acquired the 20,375-square-foot building, positioned on 1.56 acres at 12810 Stroh Ranch Court, from AKM Family LLC. The seller was represented by David Marulli, Tommy Daher and Mitch Trevey of Trevey Com- mercial Real Estate. The buyer was represented by Tom Omdal and Katie Hummer of Kin Com- mercial. Fidelity National Title helped to execute the transaction. Built in 2004, the property is adjacent to King Soopers and Walgreen’s and features a roll-up door with a loading dock, and a 2.7:1,000-sf parking ratio, accord- ing to a LoopNet listing. La-Z- Boy’s current lease ends in July, the listing said. n DENVER – A mixed-use property in the Baker neighbor- hood sold for $3.33 million in May. Buyer 76 N Broadway LLC pur- chased the 13,000-sf, two-building property at 76 Broadway from Three Pillars LLC. Todd Snyder of Kentwood Commercial repre- sented the seller, and Paul Cattin of Platinum Commercial Real Estate represented the buyer. The property is fully leased to long-term tenants, including The Hornet and Lucky Noodles res- taurants on the ground floor and 18 office tenants on the second floor. Positioned at the signal- ized Broadway-East First Avenue intersection, the 1919-built prop- erty is highly visible and includes 21 off-street parking spaces. The asset is surrounded by residential, retail and entertainment options. n LAKEWOOD – A retail strip center at the corner of Wadsworth Boulevard and West Jewell Ave- nue traded hands for $900,000 in April. Victory II Enterprise Colorado LLC bought the multitenant prop- erty at 1890-1896 S. Wadsworth Blvd. from Bozon LLC, which had owned the asset since 2000, according to Jefferson County public records. Mike Haley of Fuller Real Estate represented the seller, and Simon Kim of Simon Kim Realty rep- resented the buyer. P o s i t i o n e d on 0.25 acres at a high-traffic i n t e r s e c t i o n , the property is visible to 49,238 vehicles per day and surround- ed by numerous types of retail amenities, including fast-food restaurants, automotive servic- es, banks, groceries and more, according to a marketing bro- chure. The 3,920-sf asset is cur- rently 67% percent leased, with one vacant space. Built in 1965, the property features 3-phase power, a 2.8:1,000-sf parking ratio, and M-G-U zoning. s Nectar Equities acquires Diagonal Marketplace retail center by Avalon Jacka BROOMFIELD – The owner- operator of FlatIron Crossing is set to welcome new tenants ahead of the retail center’s 25th anniversary. Macerich announced four retailers – Abercrombie & Fitch, Anthropologie, Lego and SweetPlay – have signed new leases, and another three – Lululemon, Victoria’s Secret and Bath & Body Works – are expanding or relocating within the property at 1 W. Flatiron Crossing Drive. “FlatIron Crossing has tre- mendous momentum heading into its 25th anniversary, with high-profile retailers joining the property and existing ten- ants expanding their spaces – all spurred by our investments in the adjacent HiFi develop- ment and our commitment to the overall property,” said Kim Choukalas, Macerich senior vice president, leasing. “Our goal is to continue to bring customers in Broomfield and the surrounding area the very best new retailers, restaurants and entertainment concepts for FlatIron Crossing and HiFi at FlatIron Crossing.” Colorado-based SweetPlay has opened its 10,085-square- foot space in Suite 2132. The concept features a soft-play environment for kids and tod- dlers, as well as a ninja course, café, candy store and space for parents to relax. The concept also has a Greenwood Village location. Anthropologie is expected to open its 8,220-sf space this fall. The retailer offers women’s clothing, accessories, beauty products, and home furni- ture and décor. The company has locations at Twenty Ninth Street in Boulder, Cherry Creek Shopping Center in Denver, Shops at Briargate in Colorado Springs, and Park Meadows in Lone Tree. Abercrombie & Fitch will open its 4,991-sf store in sum- mer 2026. The retailer sells clothing for men, women and kids. Its current Colorado locations include two Denver stores – one for adults and one for kids – within Cherry Creek Shopping Center, as well as Park Meadows. Lego’s 3,824-sf store is antici- pated to open by the end of this year. The Danish toy company exclusively sells Lego-branded toys in its stores. The company currently has two locations in Colorado, at Colorado Mills in Lakewood and in Park Mead- ows. Victoria’s Secret will relocate from its current 6,732-sf store to a 7,617-sf space on the sec- ond level. The new location will combine Victoria’s Secret with its Pink concept into a single store. Lululemon will convert its pop-up store into a full-line permanent store this fall, expanding its footprint to 5,364 sf. Bath & Body Works is relocating in the property with a new store prototype. Macerich is currently build- ing HiFi at FlatIron Crossing – a 25-acre, mixed-use outdoor community hub with shop- ping, dining, entertainment and residential units – adjacent to the indoor FlatIron Cross- ing property. Macerich recently signed Pindustry as the first “eatertainment” anchor for HiFi. The local entertainment company will operate a 34,000- sf venue with entertainment, dining and drink, and a roof- top patio at the development, according to previous report- ing. Phased openings at HiFi are set to begin in 2027, includ- ing Pindustry and Novel Flat- Iron, a 347-unit luxury multi- family community. FlatIron Crossing and HiFi at FlatIron Crossing are posi- tioned between Boulder and Denver along the U.S. High- way 36 corridor, allowing accessibility for customers along the Front Range. FlatIron Crossing is home to more than 200 national and local retailers and restaurants. Other News n PARKER – A Wheat Ridge- based high-end bicycle shop signed a long-term lease to open its third location in a new market. DenVentures Inc., doing business as Wheat Ridge Cyclery, leased a 3,593-square- foot space at Stroh Ranch Retail, located at 12870 Stroh Ranch Court, Suite 101. Occu- pancy will begin in September. Rich Otterstetter of Crosbie Real Estate Group represent- ed the tenant. Landlord SRR Holdings LLC was represented by David Marulli and Tommy Daher of Trevey Commercial Real Estate. The new location expands Wheat Ridge Cyclery’s foot- print, joining its original Wheat Ridge location and its Ken Caryl store in Littleton. The retailer sells bikes, appar- el, parts and accessories, and offers bike fitting and mainte- nance services. n PARKER – An independent bakery has signed a lease for retail space within The Juniper, a new luxury mixed-use devel- opment in downtown Parker. Poulette Bakeshop will Macerich announces tenant updates for FlatIron Crossing Please see Poulette, Page 28 Diagonal Marketplace’s in-line neighborhood strip center and multitenant outpad building located at 980, 1020 and 1100 Ken Pratt Blvd. total 35,658 square feet. Justin Fast Mike Haley