Marcus & Millichap arranges Sun Plaza sale
A 53,587-square foot retail property in Littleton
Marcus & Millichap, a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Sun Plaza, a 53,587-square foot retail property located in Littleton, according to Richard A. Bird, regional manager of the firm’s Denver office.
The seller, a private investor, was represented by Drew Isaac and Brian C. Smith, CCIM, senior associates in Marcus & Millichap’s Denver office, as well as Stewart I. Weston and W. Michael Cavner, senior associates in the firm’s Newport Beach office. Fabia Sangiorgi, associate in Marcus & Millichap’s Palo Alto office, secured and represented the buyer, also a private investor.
Sun Plaza is located at 9116 West Bowles Avenue in Littleton, approximately 15 miles southwest of Denver. This property benefits greatly from its location in a dense retail corridor and sits directly across from Southwest Plaza, a 1.3 million square foot mall anchored by major tenants such as Dillard’s, JCPenny, Macy’s, Sear’s and Dick’s Sporting Goods.
Sun Plaza consists of two retail buildings currently leased to mostly child care and medical tenants. Of these tenants, the largest are Urgent Care of Colorado, Ascent Therapy Clinic and Wellness Center, Peak Center of Excellence, an early child care provider, and The Refinery, a gym specializing in CrossFit and martial arts. The property currently has 18 out of 20 spaces leased with all tenants, excluding a storage space, being on triple-net (NNN) leases.
About Marcus & Millichap (NYSE: MMI)
With nearly 1,500 investment professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 7,600 transactions in 2014 with a value of approximately $33.1 billion. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com