An unidentified Colorado investor recently doled out $13 million for the Summit Square shopping center in Westminster.
The center includes five buildings near the northeast corner of Federal Boulevard and West 84th Avenue. The Denver-based investor paid the largest amount for a non-grocery anchored shopping center so far this year in metro Denver, according to the real estate firm CBRE.
CBRE represented the seller, Arizona-based AZG Summit Square LLC, in the transaction. Summit Square II LLC was the buyer.
Summit Square II has an opportunity to add to the shopping center by developing a vacant pad site on the 94,244-square-foot property. The center already includes Big Time Trampoline, Inspire Fitness, Adams County DMV, H&R Block, Blackjack Pizza, Grease Monkey and Baskin Robbins.
Business & data reporter Adrian D. Garcia can be reached via email at [email protected] or twitter.com/adriandgarcia.
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