CBRE Facilitates $12.95 Million Sale of Multi-Tenant Retail Shopping

CBRE has announced the sale of The Shops at Mesa Ridge, a 29,309-square-foot multi-tenant retail property in Fountain, Colo., to a private investor for $12.95 million.

Mark Shaffer, Gary Stache, Gerard Poutier and Chris Martin with CBRE Capital Markets Investment Properties represented the buyer in the transaction.

“The Shops at Mesa Ridge is a dominant regional shopping center in the fountain trade area,” said Mr. Shaffer, senior vice president at CBRE. “The property’s high historical occupancy and the line-up of diverse, e-commerce resistant tenants anchored by a top-performing grocery store makes this a strong investment for the buyer.”

Built in 2001, the property at 6859-6885 and 6965 Mesa Ridge Parkway within the Safeway-anchored Markets at Mesa Ridge shopping center. The shopping center is comprised of two multi-tenant buildings that were 95.96% occupied at the time of sale by 16 local, regional, and national retailers, including Pizza Hut, ENT Credit Union and Buffalo Wild Wings.

“This transaction is another example of how our team’s 1031 Exchange buyer advisory services offered a customized acquisition experience for our client,” added Mr. Stache, vice chairman at CBRE. “By leaning into our opportunities across the country, our client successfully identified this premier retail property in Colorado within a tight timeframe.”

The property is situated just East of Interstate 25 on the southeast corner of the Mesa Ridge and Fountain Mesa Road intersection. It’s less than three miles from Fort Carson and 12 miles north of Peterson Air Force Base.