Colorado

Westwood Financial Acquires Regional Community Center in Denver, Colorado MSA

LOS ANGELES–(BUSINESS WIRE)–Westwood Financial, a leading retail real estate investment firm, today announced it has acquired The Shops at Walnut Creek, a 225,224-square-foot shade-anchored community center from Super Target in Denver, Colorado.

“The Shops at Walnut Creek is a great addition to our extensive 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 an occupancy rate of 94 percent at the time of acquisition, the center features a number of top-notch national retailers including TJ Maxx, HomeGoods , PetSmart, Michaels, Old Navy and Dollar Tree. There’s also a wide variety of restaurants and service businesses, 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 located at the Denver Boulder Turnpike (US-36). This freeway is the main artery connecting the cities of Denver and Boulder and has traffic of over 94,000 vehicles per day. The Shops at Walnut Creek serves an educated and affluent community. The average household income within a mile radius is over $122,000 and population growth is projected to increase at nearly 2% per year over the next four years. “Denver continues to be a top-performing market, consistently ranking in the top 10 cities for aggregate economic and population growth,” said Bratt.

Walnut Creek stores are located at 10449 Town Center Drive in Westminster, Colorado. The 26-acre property is located at the intersection of Church Ranch Boulevard and Highway 36, 22 minutes northwest of downtown Denver and 18 minutes south of Boulder.

The seller, InvenTrust Properties, was hired by Brad Lyons at CBRE | represent national trading partners.

About Westwood Financial

Westwood Financial owns/manages and operates over 126 premium shopping centers in major US metro markets including Atlanta, Charlotte, Dallas, Denver, Jacksonville, Los Angeles, Orlando, Phoenix and Raleigh. The centers are primarily anchored by world-class grocers and leading service and experience-based operators. Founded in 1970, Westwood Financial is headquartered in Los Angeles with regional offices in Atlanta, Dallas and Phoenix. Visit www.westfin.com for more information.

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