Holliday Fenoglio Fowler, L.P. (HFF), on behalf of the owner, is marketing Tamarac Shopping Center for sale. The retail property is a 68,534-square-foot, 100-percent-leased shopping center shadow anchored by a Target in Denver, Colorado. It consists of three single-tenant, net-lease assets and a 33,099-square-foot, Ace Hardware-anchored strip center. Leased to a variety of national tenants, including Chick-fil-A, Bank of the West and Benihana, the property presents an investor attractive in-place cash flow with near-term upside potential. Investors can acquire the four separately parceled assets as a whole or individually.
Anchored by Ace Hardware, the strip center for sale is 100 percent leased to 12 tenants with a weighted average tenure of more than eight years, demonstrating the tenants’ commitment and success at the center. The hardware store anchor expands the customer draw to the overall shopping center, complementing the daily needs and restaurant users. The retail center received a brand-new façade in 2013 with the arrival of Target, minimizing capital needs to a new owner. Tamarac Shopping Center has a strong occupancy history, offering potential investors income security to complement the potential upside available due to below market rents, strong tenant sales volumes and a 2.4 percent vacancy rate in the immediate trade area. National retailers account for 82 percent of GLA and more than 75 percent of the gross rental revenue.
Situated on 7.21 acres at South Tamarac Drive and East Hampden Avenue, a heavily trafficked intersection experiencing more than 61,700 vehicles per day, Tamarac Shopping Center benefits from consumer traffic driven to the new Target, which in 2013 replaced an existing shopping center, reactivating the center’s draw as a retail destination.
Tamarac Shopping Center is being delivered “free and clear” of existing financing, presenting an investor with the opportunity to capitalize on historically-low interest rates, favorable market financing terms and enhanced leveraged returns.
Tamarac Shopping Center offers investors a Target (with grocery) shadow-anchored shopping center in a densely populated, high-growth submarket in the heart of Denver. Consisting of national tenants and shared access with the new Target, the future owner will enjoy stable cash flow and increasing retail demand in the area. For more information on this commercial property for sale or other retail properties for sale in the Denver area, please contact Chad Murray, Mark Williford or Bryan Ley. For information on financing this acquisition, please contact Leon McBroom. To view HFF’s current real estate investment listings, please click here to be directed to HFF’s property search page.