Northglenn, CO (Sep 17, 2015) — Unique Properties, Inc. has completed the sale of Hillcrest Plaza, located at 1400-1490 West 104th Avenue in Northglenn, Colorado on behalf of Savageau R Limited Partnership. McCain Properties II LLC was the buyer. Marc Lippitt, Scott Shwayder, and Justin Herman of Unique Properties exclusively handled the transaction.
The Property was sold earlier this week on Tuesday, September 15th with a purchase price of $5,000,000. As a full service firm, Unique Properties’ property management company, Unique Management Solutions, LLC will be providing management services for the Property going forward, while Unique Properties will also be the exclusive leasing representative for the new owner.
“This transaction is just one more example of how Unique’s full-service platform of sales, leasing and property management services can tremendously benefit our clients,” said Marc Lippitt. “That platform, in combination with Unique Management’s growing portfolio, allows us to provide an even higher level of service,” he added. “This was truly a one-stop shopping experience, something Unique strives to offer.”
The 34,269 square foot plaza was built in 1972, is in turn-key condition, and is located in a high traffic area off of West 104th Avenue and Pecos. Current tenants represent a diverse mix ranging from national credit tenants to local retailers. Hillcrest Plaza had many tenants paying under market rental prices, leaving an upside for the new owner to capitalize. At the time of sale, the CAP rate was 8.11% and was 92% occupied. The previous owners owned this property for over 30 years.
To schedule an interview with a Unique Properties Broker regarding this transaction, to seek out a similar investment opportunity, or for more information about Unique Properties, Inc., from a corporate standpoint, please contact: Natalia Griffin at ngriffin@uniqueprop.com, or 720.881.6320.
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