BROOMFIELD, CO – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has secured the exclusive listing for a 35,000-square foot Designer Shoe Warehouse (DSW) (top left photo) in Broomfield, a Denver suburb. The listing price of $13,600,000 equates to $389 per square foot.
Mark Thiel (middle right photo), a senior associate in Marcus & Millichap’s San Diego office, is representing the seller, a Denver-based LLC. Michael Hoffman (lower left photo), first vice president investments in the firm’s Denver office, is also providing representation.
“The property was constructed in 2002 and the tenant is on the original 15-year triple-net lease,” says Thiel. “The lease includes 10 percent increases every five years. This listing is a perfect opportunity for a passive investor to acquire a successful national brand name retail store in a desirable metro-Denver retail location,” Thiel adds.
The DSW store is located at 595 Flatiron Blvd. at the entrance to the 1.5 million-square foot Flatiron Crossings mall, just off U.S. Route 36, which connects Denver and Boulder.
Flatiron Crossings is the premier shopping destination in the Broomfield market. The mall is anchored by Nordstrom, Macy’s and Dillard’s. The perimeter of the mall is filled with commercial development, including a Walmart Supercenter, restaurants, retail strips, offices and hotel properties. DSW has more than 352 locations in 40 states. The chain’s net sales increased 8.5 percent the third quarter of 2011 to $530,700,000.
Broomfield is an upscale community with home prices ranging from the $200,000s to more than $2 million.
Contact: Stacey Corso, Public Relations Manager, (925) 953-1716
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