ARMSTRONG CAPITAL DEVELOPMENT SELLS MIXED-USE RETAIL BUILDING IN HIGHLANDS RANCH
Denver, Colorado - Armstrong Capital Development (ACD) has announced today that it has closed the sale of Plaza 7120, an 11,500 square foot, multi-story office and retail building in Highlands Ranch, Colorado. CBRE represented the seller in the sale of the property to a confidential private capital buyer.
Located at the southwest corner of County Line Road and Quebec Avenue, the mixed-use property offers high-profile frontage and visibility to more than 38,000 VPD. ACD redeveloped the property in 2015, expanding the ground floor with an additional 2,500 square foot drive through unit to meet retailer demand for well-located space within the vibrant trade area. County Line Road is a major I-25 connector serving south suburban Denver, with surrounding commercial uses supported by high average annual household incomes. At closing, the property was 100% occupied to a diverse stable of ecommerce-resistant tenants including CareNow Urgent Care, Einstein’s, American Family Insurance and others.
ACD completed the transaction on behalf of its ACD 2013 Fund, LP. “Plaza 7120 drew significant interest due to its outstanding location and stable tenancy,” said Josh Katzer, Partner at ACD. “This transaction illustrated the ongoing strong demand for creative reuse of suburban infill space. We could not be more pleased with the outcome of this project.”
Founded in 2005, Armstrong Capital Development is a Denver-based private development company that acquires, develops and manages commercial real estate investments in the Intermountain West. ACD is actively pursuing opportunities within the Utah, Colorado and Arizona markets.