NORTHBROOK, Ill. (November 1, 2022) – An affiliate of Northbrook-based Pine Tree, in partnership with Wafra Inc., a New York-based alternative investment firm, acquired Harvest Junction, a 364k-square-foot community center located in the growing Northern Colorado city of Longmont. Ideally positioned along Ken Pratt Boulevard, Harvest Junction is visible to over 74,000 vehicles per day and features an exceptional lineup of national retailers including Lowe’s (shadow-anchored), Best Buy, Dick’s Sporting Goods, Marshalls, Ross Dress for Less, Michael’s, Petco, and DSW, among others.
The partnership acquired the property for $73.8 million. Harvest Junction represents Pine Tree’s third acquisition in Colorado. Completed in 2006, Harvest Junction includes 36 acres on both the north and south sides of Ken Pratt Boulevard in the high-growth Boulder MSA and features a trade area with an average household income 23% above the national average.
“Harvest Junction features outstanding visibility, a fantastic trade area, and an impressive lineup of retailers,” said Conor Bossy, EVP, Director of Acquisitions at Pine Tree. “We’re proud to grow Pine Tree’s presence in Colorado and look forward to working with our tenants to cement this shopping center’s place as one of the highest-performing in the entire Denver market.”
Harvest Junction was brokered by Barry Brown, Bryan Ley, and Jason Schmidt of JLL’s Retail Capital Markets Investment Sales and Advisory team and brings Pine Tree’s acquisition total to $450 million since September 2021.
