Marcus & Millichap Inc.
10/23/2024 | Press release | Distributed by Public on 10/23/2024 12:20
Marcus & Millichap Arranges The Sale Of a Highlands Ranch 28,068 Square Foot Net Leased Property
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Marcus & Millichap Arranges The Sale Of a Highlands Ranch 28,068-Square Foot Net-Leased Property
October 23, 2024
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HIGHLANDS RANCH, CO, October 23, 2024 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Goodwill of Colorado, a 28,068-square foot net-leased property located in Highlands Ranch, Colorado, according to Adam A. Lewis, regional manager of the firm's Denver office. The asset sold for $7,500,000.
Marty Cohan, Senior Managing Director in our Los Angeles office, in collaboration with local market expert Cory Gross, First Vice President Investments, had the exclusive listing to market the property on behalf of the New York based seller, a private investor. "This property was Built-To-Suit for Goodwill in 2014 and they are still operating under their initial 15-year lease. It's one of the busiest stores in the country, ranking in the top 5% Nationwide with visits increasing 77% over the past 3 years. Its location in one of the busiest retail corridors and most affluent areas of Highlands Ranch attracted buyers from around the country with it selling at 97% of the list price to an Oregon based 1031 Exchange Buyer" said Gross.
Goodwill of Colorado is located at 8585 Poplar Way in Highlands Ranch, Colorado. Goodwill is situated within one of Denver's primary retail and commercial corridors. It is less than 2 miles from the Denver area's largest shopping center at 1.6M square feet, hosting a collection of worldwide brands such as Apple, Tesla, Four Star by Amazon, Flagship Nordstrom, Lululemon, Orvis, Oakley, P.F Chang's, Perry's Steakhouse, Sweetgreen, Fogo De Chao and many more.
Marty Cohan, Senior Managing Director in our Los Angeles office, in collaboration with local market expert Cory Gross, First Vice President Investments, had the exclusive listing to market the property on behalf of the New York based seller, a private investor. "This property was Built-To-Suit for Goodwill in 2014 and they are still operating under their initial 15-year lease. It's one of the busiest stores in the country, ranking in the top 5% Nationwide with visits increasing 77% over the past 3 years. Its location in one of the busiest retail corridors and most affluent areas of Highlands Ranch attracted buyers from around the country with it selling at 97% of the list price to an Oregon based 1031 Exchange Buyer" said Gross.
Goodwill of Colorado is located at 8585 Poplar Way in Highlands Ranch, Colorado. Goodwill is situated within one of Denver's primary retail and commercial corridors. It is less than 2 miles from the Denver area's largest shopping center at 1.6M square feet, hosting a collection of worldwide brands such as Apple, Tesla, Four Star by Amazon, Flagship Nordstrom, Lululemon, Orvis, Oakley, P.F Chang's, Perry's Steakhouse, Sweetgreen, Fogo De Chao and many more.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.