COLORADO SPRINGS, CO – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has closed the sale of Marketplace at Austin Bluffs (top left photo), a 226,626-square foot grocery-anchored shopping center in Colorado Springs. The sales price of $32,810,000 represents $145 per square foot.
Jon Hendrickson (lower right photo), a senior associate in Marcus & Millichap’s Denver office, was the sole agent in the transaction. He represented the seller, United Properties, and the buyer, AmCap Austin Bluffs LLC.
“Marketplace at Austin Bluffs is one of the top-performing grocery-anchored shopping centers in the state,” says Hendrickson. “The listing drew a substantial amount of interest from both institutional and private capital sources, and we received a double-digit number of offers.”
The shopping center is located on 23.58 acres in a dense infill location on the northwest corner of Academy Boulevard and Austin Bluffs Parkway at 3604-3650 Austin Bluffs Parkway, 4170 and 4284 N. Academy Boulevard in Colorado Springs. The intersection receives approximately 95,300 cars per day and more than 123,000 people live within a three-mile radius.
The center is anchored by King Soopers, Colorado’s No.1 market-share grocery chain. King Soopers is on a long-term ground lease. Junior anchors at the center include 24-Hour Fitness, Hancock Fabrics, Ace Hardware and Office Depot.
The property was substantially redeveloped in 2007.
Contact: Stacey Corso, Public Relations Manager, (925) 953-1716
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