Grocery-anchored retail center in Denver metro sells for $8.25M
JLL Capital Markets closed the sale of the 32,297-square-foot Shoppes at Parker Commons in Aurora, Colorado
DENVER, Dec. 1, 2022 – JLL Capital Markets announced today that it has closed the $8.25 million ($255 PSF) sale of Shoppes at Parker Commons, a 32,297-square-foot shopping center located in the city of Aurora within the greater Denver metropolitan area.
JLL marketed the property on behalf of the seller, Special Servicer LNR Partners LLC. Peakview Realty acquired the asset.
Built in 1987, Shoppes at Parker Commons is anchored by a high-volume H Mart, the largest Asian American grocery store chain with locations throughout the United States and Canada. The property was leased up to 92% occupancy by LNR and included additional tenants H&M Dental, Farmers Insurance, O’Hair Salon, Volcano Tea House, Neo Lashes and Nails, QQ Massage and more. Many of the tenants have a long history at the property with 76% of the tenants in place for over 5 years.
Situated at 2701-2787 S. Parker Rd., The Shoppes at Parker Commons is located at the convergence of South Havana Street (SH30), East Yale Avenue and South Parker Road (SH83), along a key retail node serving the communities of East Denver and Aurora.
The JLL Retail Capital Markets Investment Sales and Advisory team that represented the seller was led by Managing Director Jason Schmidt.
H-Mart, who anchors The Shoppes at Parker Commons, has a significant customer base in Colorado despite only having a few stores. The sale proved to be a rare opportunity for investors to capitalize on their wide appeal.
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 sales advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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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 September 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Peakview Realty
Peakview Realty is a privately owned real estate firm led by Broker Owner, Sana Kim, focusing on value acquisitions in hospitality and retail real estate in the Denver Metro and Colorado markets. Specializing in building generational wealth, Peakview Realty has extensive experience in 1031 exchanges, acquisitions, redevelopment and management of real estate assets to create long lasting value.