TRC Retail recently acquired a shopping center in the West Highlands area of Denver for $26.9 million. The property, formerly home to Elitch Gardens Theme Park, was sold by HGV and is now known as Highlands Garden Village at 4700 W. 38th Ave.
The expansive shopping center boasts five buildings and offers over 75,000 square feet of retail, commercial and office space. Popular retailers such as Sprouts Farmers Market and 24 Hour Fitness can be found here alongside other local favorites like Starbucks, HealthOne, Comfort Dental and Glo Noodle House.
All retail spaces are currently occupied with leases that include annual rental increases according to Blue West Capital’s broker on the deal.
Built between 2006-2007,the Highlands Garden Village has been listed for sale at nearly $24.3 million with a cap rate of 6.5%, according to marketing materials.
Robert Edwards and Tom Ethington from Blue West Capital were responsible for representing both the buyer and seller in this transaction.
