Phoenix & Southwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Stable Aurora Shopping Plaza Sells for $20.4M
If the seller of Summer Valley Shopping Center in Aurora had anything going for it for the last five years, it was stability. A total of five tenants have been at the property for more than 15 years, while 14 tenants have been there for around five years. Vasa Fitness and Dollar Tree are the anchor tenants at the property, which was 99 percent leased at the time of the sale.
Arbor Plaza sold Summer Valley Shopping Center, a 95,669-square-foot retail center in Aurora, Colo., for $20.4 million. Cushman & Wakefield brokered the transaction on behalf of the seller.
Arbor Plaza purchased the asset back in 2018 for $19.7 million, according to CommercialEdge data. Independent Bank provided a $12.5 million acquisition loan.
Summer Valley Shopping Center encompasses two buildings, on an 8.1-acre site on the northeast corner of E. Quincy Avenue and S. Buckley Road, in the Carriage Place neighborhood. The property underwent several renovations since its construction in the 1980s.
- ◦Sale/Acquisition
