News release

Boulder-MSA retail center sells for $73.8M

JLL Capital Markets arranged the sale and secured the $36.9M acquisition financing of the 364,000-square-foot Harvest Junction in Longmont, Colorado

November 03, 2022

Jenna Sharp

Capital Markets PR
+1 214 438 6450

DENVER, Nov. 3, 2022JLL Capital Markets announced today that it has closed the $73.8 million sale and secured the $36.9 million acquisition financing for Harvest Junction, a 364,000-square-foot retail park located in Longmont, Colorado within the Boulder MSA.

JLL represented the seller, a joint venture between Walton Street Capital and a regional operating partner, and a joint venture between Wafra, Inc. and Pine Tree acquired the asset. Working on behalf of the new owner, JLL also secured the seven-year, interest only, fixed-rate loan through a correspondent life insurance company.

Built in 2006, the 97-percent-leased center is home to Lowes, Ross, Marshall’s, Best Buy, Dick’s Sporting Goods, Michael’s, Petco, Staples, DSW and more. Nearly 3.5 million people visit Harvest Junction per year, and the center is in the top 7% of shopping centers in the U.S. The new ownership will continue to maintain the strong operations at the property and position the center as the preeminent shopping destination in the market.

Located at 205 & 210 Ken Pratt Blvd., the center serves the high growth communities of Longmont, Loveland, Greeley, Boulder and Fort Collins areas. Situated along Highway 119, the park is visible to 74,000 vehicles per day and is the direct beneficiary of $18.2 billion in spending power within a 30-minute drive. Harvest Junction is also 20 miles from the University of Colorado and proximate to future demand drivers, including UC Longs Peak Medical Center and the new JM Smucker Plant.         

The JLL Retail Capital Markets Investment Sales and Advisory team that represented the seller was led by Senior Managing Director Barry Brown and Managing Directors Bryan Ley and Jason Schmidt. Senior Managing Director Eric Tupler and Director Will Haass led The JLL Capital Markets Debt Advisory team.

“Harvest Junction plays a key role in the retail landscape of the thriving markets in Northern Colorado,” said Schmidt. “This is irreplaceable real estate that will continue to demand the attention of brand-named tenants looking to capitalize in one of the strongest growth markets in the nation.” 

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of June 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit

About Walton Street Capital

Walton Street is a private equity real estate investment firm that, since its inception in 1994 through its affiliates, has raised over $15 billion of capital commitments. Walton Street’s principals have collectively acquired, financed, managed, and sold over $50 billion of real estate and have an average of 21 years of real estate industry experience. Senior management has collectively invested and managed both real estate equity and debt through several real estate cycles over five separate decades and more than 40 years, forging long-term and deep relationships with lenders, public and private real estate owners, operators, brokers, managers, and industry service providers.

About Wafra, Inc.

Wafra is a global alternative investment manager with approximately $33 billion of assets under management. Wafra invests across a range of alternative assets, including traditional and alternative real estate, strategic partnerships, real assets and infrastructure. By providing flexible and accretive capital solutions and focusing on long-term partnerships, Wafra aligns and partners with high quality asset owners, companies and management teams. Headquartered in New York, Wafra has additional offices in London, Kuwait and Bermuda. For more information, please visit:

About Pine Tree

Pine Tree is a Northbrook, Illinois-based full-service real estate company specializing in retail. Founded in 1995, Pine Tree’s current portfolio tops $3.5 billion in assets under management. The company’s projects are located across the United States.