KPR Centers, a real estate development and investment group based in New York City, has recently expanded into the Denver retail market with their acquisition of University Hills. The property, located at 2750 S. Colorado Boulevard and spanning 210,000 square feet, was purchased for $56.5 million.
According to KPR’s Daniel Eisenberg: “We see great potential in the Denver metropolitan area as one of the strongest and most prosperous retail markets in the country. We have carefully searched for an opportunity to establish ourselves here with a premier property.”
The center is anchored by King Soopers and also features popular retailers such as Michaels, Marshalls, Office Depot,and PetSmart along with various restaurants like Five Below and Ulta Beauty. At the time of purchase,the center was fully leased out.
Tom Lagos from Institutional Property Advisors acted on behalf of KPR during this off-market transaction.The company now operates in 18 states across America and manages approximately 10 million square feet worth of properties under its name.
This news originally appeared on Connect CRE.
