KPR Pays $56.5M for Denver Shopping Center – Connect CRE

KPR Centers, a New York City-based retail real estate development and investment group, has entered the Denver, Colorado, retail market with the $56.5 million acquisition of University Hills, a 210,000-square-foot grocery-anchored center located at 2750 S. Colorado Boulevard.

“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,” stated KPR’s Daniel Eisenberg,

The grocery-anchored asset, which featured King Soopers, Michaels, Marshalls, Office Depot, PetSmart, Five Below, Ulta Beauty, Starbucks Coffee, and numerous other restaurants and retailers, was 100 percent leased and occupied at the time of the transaction.

Tom Lagos of Institutional Property Advisors represented KPR on this off-market transaction. KPR Centers is now active in 18 states and has approximately 10 million square feet of owned and self-managed properties.