Dana Investments has spun off a 136,000-square-foot Highlands Ranch retail center. JCR Cos. was the buyer of the Promenade at Highlands Ranch. Commercial Edge reports Grant Street Funding provided a $18.2 million acquisition loan. Dana Investments purchased the retail asset back in 2005 for $14.3 million. JCR says its specialty area is value-add, core-plus retail shopping centers in the Mountain West and Mid-Atlantic.

Institutional Property Advisors brokered the transaction. IPA’s Ryan Bowlby and Drew Isaac represented the seller and procured the buyer.

Promenade at Highlands Ranch opened in 1986. Its tenant roster includes State Farm, Club Champion Golf, Bike Source, Carpet Mill, Fitness Gallery and Taste of Philly, among others.

Located at 2660-2690 E. County Line Road, the retail center is near the intersection of State Highway 470 and University Boulevard. The Promenade at Highlands Ranch is in an area where the average household income reaches $150,000 and the daily traffic count sees approximately 170,000 vehicles.