ACD BUYS ARVADA CONNECTION SHOPPING CENTER IN METRO DENVER FOR $17.5M
ARVADA, COLO. — Denver-based Armstrong Capital Development (ACD) has acquired Arvada Connection, a shopping center in Arvada, a suburb of Denver. Walton Street Capital sold the property for $17.5 million.
Located at 5220 Wadsworth Blvd., Arvada Connection features 56,000 square feet of retail space. At the time of sale, the asset was 95 percent leased to a variety of tenants, including Chick-fil-A, Chase Bank, Taco Bell, IHOP and Sherwin Williams. ACD plans to refresh the center with upgraded site work, improved monument storage and unified artistic enhancements.
Brad Lyons and Matthew Henrichs of CBRE represented ACD in the transaction. ACD funded the acquisition through its ACD 2017 Fund LP investment vehicle. Mike DePalma and David Dobek of SullivanHayes Brokerage will serve as the exclusive listing agent for Arvada Connection.
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