ACD News

Corebridge Real Estate Investors and Armstrong Capital Development Announce Programmatic Partnership and Purchase of Townridge Shopping Center

8/17/2026

Corebridge Real Estate Investors ("CREI") today announced the formation of a strategic joint venture with ACD Fund V, LP, an affiliate of Armstrong Capital Development ("ACD"), to acquire and develop high-quality retail assets in select high-growth markets across the United States. The venture completed its inaugural acquisition with the purchase of Townridge Shopping Center, a 273,105-square-foot retail center in Raleigh, North Carolina.

ACD ANNOUNCES GROUNDBREAKING FOR A NEW WALMART SUPERCENTER IN EAGLE MOUNTAIN, UT

4/17/2024

Eagle Mountain, UT – April 17, 2024 – ACD announced today that it has successfully launched its next Utah project with the acquisition of a 20.3-acre land parcel slated for retail development in the greater Provo-Orem market. ACD will develop the ground as a pad-ready site for Walmart in connection with a joint development project that will ultimately see the rise of a 200,000 square foot Walmart Supercenter as well as a Walmart fueling station / C-store.

ACD ANNOUNCES LAUNCH OF BRITELOCK STORAGE

10/27/2023

Denver, CO – ACD is excited to announce the rebranding of its self-storage platform to Britelock Storage, unifying its growing self-storage portfolio under a new name, distinctive logo, and bold color scheme designed to elevate brand identification and consumer appeal. With Britelock Storage, ACD will accelerate its growth in the self-storage market with an emphasis on premium asset management, consumer satisfaction and enhanced brand reputation.

ARMSTRONG CAPITAL DEVELOPMENT ACQUIRES DURANGO TOWN CENTER PORTFOLIO FOR $14.5 MILLION

9/21/2023

Denver, CO — ACD today announces that it has acquired a portfolio of Class A neighborhood retail buildings at Durango Town Center, a Walmart Supercenter-anchored shopping center in Durango, Colorado. The sale included three multi-unit buildings totaling 41,813 square feet of retail space prominently located on Durango’s Camino del Rio commercial corridor. The property was 98% occupied at closing.

ARMSTRONG CAPITAL DEVELOPMENT SELLS TWO RETAIL OUTPAD BUILDINGS AT BELLEVIEW CONNECTION IN LITTLETON, COLORADO

2/6/2023

Denver, Colorado - Armstrong Capital Development (ACD) has announced the sale of a two-building retail outpad in Littleton, Colorado to a private capital buyer. Located at The Belleview Connection, adjacent to the northeast corner of West Belleview Avenue and South Federal Boulevard, the Class-A multi-tenant retail buildings totaled approximately 7,300 square feet of gross leasable area and were 100% leased at the time of sale. Matthew Henrichs with CBRE arranged the transaction.

ARMSTRONG CAPITAL DEVELOPMENT COMPLETES SALE OF SAND HILL RETAIL BUILDINGS

12/15/2022

Denver, CO - Armstrong Capital Development (ACD) announced today it has completed the sale of two multi-unit retail buildings to a private capital buyer for $8.5 million, representing a blended cap rate of 6.1%. Completed in September 2022, the newly constructed buildings comprise 15,760 square feet of 100% occupied small shop retail space prominently located at ACD’s Sand Hill Shopping Center in Colorado Springs’ Claremont Ranch neighborhood.

RETAIL HOT SPOTS BUBBLING UP IN FAST-GROWING COLORADO SPRINGS AREA

8/22/2022

Retail follows rooftops might be one of the real estate industry's oldest clichés, yet it explains why the InterQuest area in northern Colorado Springs and the Powers Boulevard corridor on the east and northeast sides have become the Pikes Peak region's hottest commercial hubs. Scores of restaurants, stores, hotels, entertainment uses and the like have flocked to the areas, enticed by thousands of homes and apartments built in nearby neighborhoods over the last 20-plus years.

ARMSTRONG CAPITAL DEVELOPMENT, LLC ANNOUNCES LEASE WITH INTEGRITY MEDICAL AT BELLEVIEW CONNECTION

7/1/2022

Denver, Colorado – Armstrong Capital Development, LLC is pleased to announce that it has entered a long-term lease with Integrity Medical Systems for a medical retail facility at Belleview Connection in Littleton, Colorado. ACD will convert approximately 10,000 square feet of flex retail-industrial space for the diagnostic imaging equipment provider’s sales operations. Integrity Medical is expected to open at the center in October 2022.

ACD ANNOUNCES LEASE WITH TERIYAKI MADNESS AT SAND HILL IN COLORADO SPRINGS

6/30/2022

Denver, Colorado – Armstrong Capital Development, LLC has today announced that it has leased the last remaining available space at its Sand Hill Phase I multi-tenant retail building in Colorado Springs to Teriyaki Madness. The fast casual Asian restaurant is expected to open for business at 7895 Silicon Heights in winter 2022. ACD expects to wrap construction on the center’s Phase II multi-unit retail building this summer and is actively marketing its remaining available retail space.

ARMSTRONG CAPITAL DEVELOPMENT SELLS 2305 SOUTH COLORADO BOULEVARD IN DENVER

6/14/2022

Denver, Colorado - Armstrong Capital Development (ACD) is pleased to announce the sale of 2305 South Colorado Boulevard (the Property) in Denver, Colorado for $5.5 million. The multi-unit retail building was originally acquired in 2015 via ACD’s opportunity fund ACD 2013 Fund, LP. The Property was 100% leased at the time of sale and marks the seventh property sold by ACD in the last twelve months, totaling approximately $55.4 million in transaction volume.

ARMSTRONG CAPITAL DEVELOPMENT SELLS HILLTOP COMMONS IN CASTLE ROCK

4/12/2022

Denver, Colorado - Armstrong Capital Development (ACD) is pleased to announce the sale of Hilltop Commons at the Meadows (Hilltop Commons) in Castle Rock, Colorado to a private capital buyer. Located at the intersection of Meadows Parkway and Limelight Avenue, the 10,700 square foot multi-tenant retail building was 100% leased to seven tenants at the time of sale. Hilltop Commons is ACD’s second development in Castle Rock’s The Meadows master planned community.

ACD ACQUIRES SHOPPING CENTER PORTFOLIO IN LAVEEN VILLAGE, AZ FOR $20.6M

3/4/2022

Denver, CO (March 4, 2022) — Armstrong Capital Development (“ACD”) announces it has completed the purchase of Shops at Laveen Village, four retail parcels located in Laveen Village, Arizona, for $20.6 million. “This latest acquisition is consistent with our strategy to acquire high quality, complementary retail assets with strong tenant rosters and superb locations,” said Josh Katzer, Partner and Director of Development at Armstrong Capital Development. “As a core asset that we believe possesses all of the needed features for long-term value, Laveen Village makes a terrific addition to our portfolio.”

ARMSTRONG CAPITAL DEVELOPMENT ANNOUNCES SALE OF RETAIL-ORIENTED INDUSTRIAL PROPERTY ON COLORADO BOULEVARD

2/18/2022

Denver, Colorado - Armstrong Capital Development (ACD) is pleased to announce the recent sale of a 12,450 square foot Gerber Collision & Glass automotive repair center located at 2228 South Colorado Boulevard in Denver. The sale concludes a five-year investment designed to capitalize on the property’s high-profile location, strong credit tenancy and ongoing buyer appetite for stabilized, Class A commercial investment opportunities. ACD completed the transaction on behalf of its ACD 2013 Fund, LP.

ARMSTRONG CAPITAL DEVELOPMENT, LLC ANNOUNCES SALE OF HEARTLAND DENTAL’S SAND HILL DENTAL CARE BUILDING IN COLORADO SPRINGS

11/5/2021

Denver, CO - Armstrong Capital Development (ACD) is pleased to announce the sale of Sand Hill Dental Care (the Property), a 4,000 square foot net-leased single-tenant medical building located at ACD’s Sand Hill shopping center in Colorado Springs, Colorado. Leased to Heartland Dental, the nation’s largest dental support organization, the newly constructed asset sold at a 5.25% cap rate to a local private investor on November 5, 2021.

MODERN MARGARITA TO JOIN THE PLANT SHOPS IN CHANDLER

10/19/2021

Denver, Colorado – Armstrong Capital Development, LLC announces that Modern Margarita will soon open a new location at The Plant Shops in Chandler, Arizona. The ten-year deal, brokered on behalf of Armstrong by the Common Bond Development Group, is for a 2,555 square foot end cap unit with an additional 1,100 square feet of planned patio dining. The gourmet small plate Mexican concept is expected to open at 4165 South Gilbert Road in 2022.

ACD SELLS PARKWAY VILLAGE SHOPPING CENTER IN PROVO, UT

6/9/2021

Provo, UT - Armstrong Capital Development (ACD) is pleased to announce the recent sale of Parkway Village, a 102,000 square foot, Walmart-anchored shopping center located at 2255 N University Pkwy in Provo. The sale follows ACD’s completion this spring of a value-add redevelopment program designed to leverage the property’s high-profile location, marquee tenancy and strong buyer appetite for stabilized, Class A retail investment opportunities. Brad Lyons of CBRE was the transaction broker