From The Real Deal · TRD Staff · · 40s
Out-of-state investors buy Denver shopping center
Chicago investors acquire Denver's Casa Bonita-anchored retail center as rents stagnate.
In brief
Chicago investors acquire Denver's Casa Bonita-anchored retail center as rents stagnate. Chicago-based Midloch Investment Partners and Core Acquisitions purchased Lakewood's Lamar Station Plaza for $30.3 million amid Denver's stagnant retail market. Originally reported by The Real Deal.
Investors acquire Denver shopping center
Chicago-based Midloch Investment Partners and Deerfield, Illinois-based Core Acquisitions bought Lakewood's Lamar Station Plaza retail property for $30.3 million.
Property details and occupancy
The 271,630-square-foot property was 76 percent occupied at sale, with a price of $112 per square foot.
Retail market trends
Denver's retail investment sales rose 95.7 percent year over year to $293.2 million as rents stagnated at $20.28 per square foot.
The headline
Chicago-based Midloch Investment Partners and Core Acquisitions purchased Lakewood's Lamar Station Plaza for $30.3 million amid Denver's stagnant retail market.
