COLORADO SPRINGS, CO – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of Chapel Hills East (top left photo), a 178,252-square foot grocery-anchored power center in Colorado Springs, Colo. The sales price is $25,000,000.Garrette Matlock (middle right photo), a senior vice president in the firm’s Denver office, exclusively listed the property on behalf of the owner and original developer, Woodland Paradise Corp. The buyer’s name was an institutional investor.
The property was marketed to selected qualified buyers throughout the United States and abroad. The buyer was selected from among more than a dozen offers submitted by prospective purchasers.
“Chapel Hills East is one of the best located grocery-anchored power centers in the state,” says Matlock. “Its excellent location capitalizes on Colorado Springs’ growth and serves established residential areas of northern Colorado Springs.”
The property is located one mile south of Interstate 25 at 7625 North Academy Blvd. This portion of Academy Boulevard is one of most heavily traveled thoroughfares in Colorado Springs.
Built in 1995, Chapel Hills East was 100-percent occupied at the time of the sale. Tenants include Whole Foods Market, Best Buy, DSW Shoe Warehouse, The Pep Boys, Old Navy, Office Max and Carter’s.
Contact: Stacey Corso, Public Relations Manager, (925) 953-1716
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