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Phillips Edison Picks Up Colorado Retail Center
Roxborough Marketplace, a Safeway grocery-anchored retail center in Littleton, CO traded hands for $18.35 million. Cincinnati-based Phillips Edison acquired the 100,000-square-foot property at 8355 North Rampart Range Rd. from Toronto-based Slate Asset Management.
Built in 2004, the center includes one anchor big box building, three multi-tenant buildings and three developed pad sites including one fuel pad. The site is across from the new, 3,400-acre master-planned community of Sterling Ranch, which includes 12,000 new housing units and roughly 33,000 residents.
CBRE’s Brad Lyons and Tim Richey represented the seller.
Lyons says, “Roxborough Marketplace offers the only full-service grocery store within five miles, making it the main retail destination in the area for groceries and daily needs. The property has stable historic occupancy, and it offers value-add potential through the lease-up of vacant space and the development of additional pad sites.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition

