Nuveen Real Estate buys Aurora retail center for $36.3M
Gerrity Group sold the Safeway-anchored Highpoint Marketplace, which it bought in 2018 for $24 million, Connect CRE reported.
At a glance
Nuveen Real Estate has acquired Highpoint Marketplace, a 113,833-square-foot retail center in Aurora, Colo., for $36.3 million, according to Connect CRE.
Gerrity Group sold the Safeway-anchored asset for roughly $319 per square foot, Connect CRE reported, citing Commercial Search for the price.
Gerrity paid $24 million for the center in 2018.
Nuveen Real Estate has acquired Highpoint Marketplace, a 113,833-square-foot retail center in Aurora, Colo., for $36.3 million, according to Connect CRE.
Gerrity Group sold the Safeway-anchored asset for roughly $319 per square foot, Connect CRE reported, citing Commercial Search for the price.
Gerrity paid $24 million for the center in 2018. At 18730 E. Hampden Ave., the three-building property opened in 2001, according to Connect CRE's account. The $36.3 million price is $12.3 million above the 2018 basis, or about 51%, before any capital spending or transaction costs. This publication reported in September that CRE owners were broadly choosing capex over price discovery.
Save this analysis and keep the funds you follow together in My Desk.
Sign in to save articles or follow funds.
DealsORIX Corp. USA buys 322-unit Austin apartment property Strata from Maverick Development
DealsReal Capital Solutions and Dunton acquire Denver Tech Center's Terrace Tower
The Wrap