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Shopping center on Colorado Boulevard sells for $56.5M
A NY-based retail real estate developer and investment group bought its first property in the metro Denver region.
KPR Centers announced last week it acquired University Hills — a 210,000-square-foot shopping center on the corner of south Colorado Boulevard and east Yale Avenue – for $56.5 million, according to a news release.
The shopping center is 100% leased, the announcement said, and anchored by a King Soopers store and also is home to a Michaels, Marshalls, Office Depot, PetSmart, Five Below, Ulta Beauty and Starbucks Coffee.
The retail investment firm now has a presence in 18 states and 10 million square feet in properties.
“We consider the greater Denver metropolitan area as among the most economically vibrant and healthiest retail markets in the United States, and we have been extremely diligent in our search to establish a foothold in the region with a signature property,” said Daniel Eisenberg, operating partner of KPR Centers, in a release.
The company stated a strong job market and a rising population within Denver attracted them to the area. There’s about 420,000 people, with an average household income of nearly $130,000, within five miles of University Hills.
The shopping center sees about 3.6 million visitors a year, according to the release.
“University Hills provided the rare opportunity to invest in an institutional-quality asset in the heart of Denver anchored by eight major national retail brands, including King Soopers, the dominant grocery store in the Colorado market,” Eisenberg added. “We intend to add value by implementing our proven asset management protocols designed to improve overall operational efficiencies.”
Florida-based breakfast and lunch chain Keke’s Breakfast Café is expanding to Colorado.
Florida breakfast chain Keke’s opening first Colorado location
Orlando-based Keke’s Breakfast Café is opening its first Colorado location.
The Florida chain founded in 2006 is opening a restaurant in Highlands Ranch on Thursday, Keke’s Breakfast Café announced.
Its flagship Colorado location will be at 1164 Sergeant Jon Stiles Dr. and will be open daily from 7:30 a.m. to 2:30 p.m.
The chain is quickly expanding across the country to states such as Colorado, with plans to open more locations in California, Tennessee, Texas, Nevada and Georgia. Keke’s Breakfast Café serves customizable omelets, stuffed french toast, cheese steak paninis and its signature Florida pancakes topped with fresh strawberries, bananas, blueberries and powdered sugar.
Restaurant officials estimate it will create between 40 and 60 jobs in Highlands Ranch.
Natural Grocers relocating its Highlands Ranch store
Colorado-based organic grocery store Natural Grocers is opening a new store in Highlands Ranch Town Center and will close its other location serving the Highlands Ranch community.
Natural Grocers announced it will move its Highlands Ranch store to a newly remodeled space on Thursday at 9315 Dorchester St.
The new store will have brighter lights, using 100% LED lighting, and a more contemporary floor plan with more room for body care products, vitamins and produce. It will also have a larger selection of USDA certified organic produce.
“The original Highlands Ranch store opened in January of 2000 and was our fifteenth store as a company. This store enabled us to build a strong connection in what was then a new area along the Colorado front range. After almost 25 years at this location, we’re excited to move into a bright, beautiful space, right across the street,” said Raquel Isely, Vice President of Natural Grocers, in a release. “We believe this new, convenient location will help us reach new customers and further our passion for supporting the health of humans and the health of our planet.”
The current store at 1265 Sergeant Jon Stiles Dr. in Littleton will close Monday.
Natural Grocers is set to close another location serving the Capitol Hill Denver market on Colfax Avenue and Washington Street later this month, due to security issues and theft, according to the grocer.
BERNADETTE BERDYCHOWSKI, The Denver Gazette
