New Retail Center for Sale in Northeast Denver

Tuesday, February 6, 2018

Update: This property is no longer available. To view HFF's current real estate investment offerings, please click here

Holliday Fenoglio Fowler, L.P. (HFF), on behalf of the owner, is marketing for sale The Shops at Green Valley Ranch, a newly constructed, 19,840-square-foot shopping center consisting of two freestanding, Class A, multi-tenant retail buildings in Denver, Colorado. Leased to a variety of national and regional tenants, including Burger King, Pizza Hut, Sport Clips, Peak Dental and Jimmy John’s, the property has a weighted average lease term of 9.7 years. This offers new ownership stability of income and surety of cash flows, which makes The Shops at Green Valley Ranch an excellent long-term investment in one of the fastest growing submarkets in Denver, Colorado.

Situated on 1.9 acres at 4906-4998 North Tower Road, the property is located along the most dominant retail corridor in northeast Denver.  The Tower Road retail corridor, bound by Peña Boulevard to the north and Interstate 70 to the south, comprises approximately 502,000 square feet of retail with a less than one percent vacancy rate. The corridor has experienced eight consecutive years of positive net absorption dating back to 2009, demonstrating strong demand for retail space in this booming market. The Shops at Green Valley Ranch is also in the path of explosive economic growth in Denver’s Northeast submarket, which encompasses Stapleton, Montbello and Gateway-Green Valley Ranch, as well as Denver International Airport (DIA). Expansive development projects proximate to the property include Pena Station NEXT TOD, Gaylord Rockies convention center and Amazon and Walmart fulfillment centers, among others. These developments, coupled with the expansion of DIA and the RTD commuter rail, will continue to drive unabated long-term growth in Northeast Denver.

The Shops at Green Valley Ranch Investment Highlights

  • Premier Accessibility and Visibility:  The Shops at Green Valley Ranch benefits from direct access and visibility to more than 17,200 vehicles per day on Tower Road. Tower Road is Green Valley Ranch’s dominant north-south arterial for residents and commuters traveling north toward the airport or south towards Interstate 70, connecting to the greater metro area employment hubs. Additionally, the property is located 1.5 miles from two A-line light rail stops, 40th Avenue and the Peña Station, providing convenient access for residents to both downtown (25 mins) and Denver International Airport (10 mins).
  • "Internet Proof” National and Regional Tenancy:  The Shops at Green Valley Ranch features a synergistic, yet diverse, tenant roster comprising best-in-class food and beverage, service and healthcare users, making up 52 percent, 33 percent and 15 percent of leased GLA, respectively. National and regional tenants make up approximately 74 percent of leased GLA and 75 percent of in-place income. The current tenant mix is largely “internet proof,” providing products, services and experiences that consumers are unable to find or receive online.
  • Explosive Trade Area Demographics:  The population has increased more than 246 percent and 122 percent in a one- and three-mile radius of the retail property for sale since 2000, respectively. The median home price in the Gateway-Green Valley Ranch master-planned communities is up nine percent over the past year but still retains an average 22 percent discount to the overall Denver Metro median home price. As such, this market is significantly more affordable for growing families and first-time home owners, leading to increased residential development to meet rising demand. Additionally, the community is part of the DSST Public School system, the highest performing and most renowned public school system in the Denver Metro and state of Colorado.
  • Located in the Path of Growth:  Massive residential, commercial and hospitality development have driven continued economic growth in the Northeast market with no indication of slowing down. The significant development activity in this market has been predominantly located in the areas surrounding DIA. Projects such as Peña Station NEXT master-planned TOD, the Gaylord Rockies 1,500-room Convention Center, Amazon’s 1.4 million-square-foot fulfillment center and Walmart’s 1.0 million-square-foot fulfillment center will help set the stage for further residential and commercial growth into the Northeast. There is already a plan in place for a 5,000-acre master-planned residential community called Aurora Highlands that will bring 60,000 new residents into the trade area less than two miles east of The Shops at Green Valley Ranch.

The Shops at Green Valley Road offers investors the opportunity to acquire a recently built asset in one of the fastest-growing submarkets in Denver with a synergistic, yet diverse mix of best-in-class tenancy that provides daily needs products, services and experiences to the consumer. For more information on this commercial property other retail properties for sale, please contact Mark Williford or Chad Murray in HFF’s Denver office.  For financing inquiries, please contact Kristian Lichtenfels. Click here for our real estate investment sales search page for a current listing of commercial properties available for sale. 

By Topics