Westminster, CO - Northview Shopping Center

Description:

SRS Investment Properties Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in Northview Shopping Center, a 37,215 SF, grocery shadow anchored, value-add investment opportunity located in Westminster, CO (Denver MSA). The property is currently 87% occupied with a diverse mix of medical, restaurant, retail, and daily needs tenants. All current tenants operate on NNN leases, reimbursing for their share of taxes, insurance, and CAM, limiting expense leakage for a new investor. Additionally, 14 of the 16 current tenants are paying below market rent, providing a unique opportunity to acquire a property with significant value-add potential within the Denver MSA, a thriving retail market.

The site benefits from excellent visibility, significant frontage, and easy access via multiple points of ingress/egress along both busy cross-streets. Northview Shopping Center is ideally positioned within the heart of a dense, growing retail/commercial corridor serving Westminster and northwest Denver. The asset is situated just a quarter-mile from the massive ongoing Downtown Westminster development. Per the city’s website, “Downtown Westminster will be a true downtown - unique, vibrant, and genuine - developed over time, one block at a time, by different developers and builders.”