Westwood Financial Acquires Regional Community Center in Denver, Colorado MSA
LOS ANGELES--(BUSINESS WIRE)--Dec 15, 2022--
Westwood Financial, a leading retail real estate investment firm, announced today the acquisition of The Shops at Walnut Creek, a 225,224 square-foot, Super Target shadow-anchored community center in Denver, Colorado.
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The Shops at Walnut Creek (Photo: Business Wire)
“The Shops at Walnut Creek is a great addition to our substantial Colorado portfolio,” said Mark Bratt, CEO of Westwood Financial. “The center has a mix of high-performing national tenants, making it one of the dominant retail centers in the northwest Denver MSA.” With 94 percent occupancy at acquisition, the center features a line-up of top-tier national retailers including TJ Maxx, HomeGoods, PetSmart, Michaels, Old Navy, and Dollar Tree. There is also a wide array of restaurants and service retailers including Qdoba, Buffalo Wild Wings, Massage Envy, LensCrafters, Sephora, and Lash Lounge.
Located in Denver’s growing northwest submarket of Westminster, this regionally dominant center is strategically positioned along the Denver Boulder Turnpike (US-36). This highway is the main artery connecting the cities of Denver and Boulder and it has a traffic count of over 94,000 vehicles per day. The Shops at Walnut Creek serves a highly educated and affluent community. The average household income within a one-mile radius is over $122,000 and the population growth is projected to increase by almost 2% per year over the next four years. “Denver continues to be a top-performing market and consistently ranks in the top 10 cities in overall economic and population growth,” explains Bratt.
The Shops at Walnut Creek is located at 10449 Town Center Drive in Westminster, Colorado. The 26-acre property is situated at the intersection of Church Ranch Boulevard and Highway 36 and is 22 minutes northwest of downtown Denver and 18 minutes south of Boulder.
The seller, InvenTrust Properties, was represented by Brad Lyons at CBRE | National Retail Partners.
About Westwood Financial
Westwood Financial owns/manages and operates over 126 high-quality shopping centers in top US metropolitan markets, including Atlanta, Charlotte, Dallas, Denver, Jacksonville, Los Angeles, Orlando, Phoenix, and Raleigh. The centers are primarily anchored by top-tier grocers and leading service and experiential-based operators. Established in 1970, Westwood Financial is headquartered in Los Angeles, with regional offices in Atlanta, Dallas, and Phoenix. More information is available at www.westfin.com.
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CONTACT: Brett Johnston
Vice President, Operations
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA COLORADO
INDUSTRY KEYWORD: PROFESSIONAL SERVICES COMMERCIAL BUILDING & REAL ESTATE FINANCE CONSTRUCTION & PROPERTY ASSET MANAGEMENT REIT
SOURCE: Westwood Financial
Copyright Business Wire 2022.
PUB: 12/15/2022 05:39 PM/DISC: 12/15/2022 05:39 PM