Colorado Real Estate Journal - October 4, 2017
by Jennifer Hayes
Armstrong Capital Development found opportunity at a suburban infill site.
The Denver-based real estate and investment company purchased a Littleton shopping center, where its planning upgrades and, potentially, expansion.
ACD paid $7.5 million for Centennial Square shopping center, a 62,215-square-foot center at 2727 W. Belleview Ave.
Centennial Square is shadow anchored by a King Soopers Marketplace and across Belleview from a Home Depot.
“We are excited to acquire this infill asset with its advantageous positon in such a vibrant market,” said Jarrett Armstrong, ACD partner. “The success of the surrounding anchors and new residential development underway make Centennial Square an excellent fit for ACD. We anticipate that our improvements to the center will complement the surrounding trade area and ultimately create the inviting shopping center sought by the community.”
ACD’s first priority with the property is to refresh the center, built in phases from 1978 to the 1980s. Work will include updating/remodeling the fascia of the multibuilding property, site work, landscaping, site signage and the parking lot. The improvements not only will improve the aesthetics of Centennial Square but also its functionality of the site plan and improving traffic flow through the center, added Kathryn Sorensen, development manager at ACD.
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