CBRE announces the sale of Shops at Colorado, a 74,310-square-foot retail center in Denton, Texas. Lincoln Retail Income & Growth Fund purchased the asset from RCG-Denton, LLC for an undisclosed price.
Shops at Colorado is strategically located at the Northwest corner of Colorado Boulevard and S. Loop 288 and is 100 percent occupied with notable tenants including Bed Bath & Beyond, Spec’s, Party City, and Sherwin Williams.
“The sale of Shops at Colorado presented the buyer with a premier investment opportunity. The property's dominant location recently attracted the addition of a long-term Spec's lease and provides the investor with a highly stabilized and secure cash flow in a thriving submarket,” said Chris Gerard, Senior Vice President, CBRE National Retail Partners. “Denton County was recently projected as the fastest growing economy in the nation over the next five years, and the new buyer was able to capitalize on the region's future potential.”
Mr.Gerard, Chris Cozby, and Blaine Dozier of CBRE National Retail Partners represented the undisclosed seller in the transaction.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
