California Investors Trade 116K-SF Eagleridge Shopping Center

CREIT, a private real estate investment trust affiliated with CIRE Equity, acquired the 116,305-square-foot Eagleridge Shopping Center in Pueblo, CO. The California-headquartered buyer paid $11.7 million to seller CNA Enterprises, which is also located in the Golden State.

Ryan Bowlby and Drew Isaac with Marcus & Millichap marketed the property on behalf of the seller, and sourced the buyer. Bowlby told the Colorado Real Estate Journal that both in-state and out-of-state buyers were interested in the asset. “The growing trend among retail investors is to target secondary and tertiary markets to achieve greater risk-adjusted returns,” he added.

Eagleridge Shopping Center, situated on 12.8 acres at 4210 N. Freeway Rd., delivered in 1997. Tenants at the 100%-leased center include Ross Dress for Less, dd’s Discounts and T.J. Maxx.

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