NORTHBROOK, Ill. (August 3, 2015) – Marking the company’s 75th acquisition since its founding in 1995, Northbrook-based Pine Tree Commercial Realty, LLC today announced its acquisition of Arvada Marketplace-Connection shopping center. Located just fifteen minutes west of downtown Denver in the densely populated suburb of Arvada, CO, the 367,510 square foot shopping center is anchored by a 142,491 square foot Sam’s Club and features top-tier national and regional tenants including Sports Authority, Dollar Tree, and Youfit health club.
“We believe Arvada Marketplace-Connection’s outstanding visibility, strong regional and national tenant mix, and ideal demographics make it one of the dominant retail properties in Denver’s western suburbs,” said Todd Zinsmaster, Executive Vice President of Acquisitions & Development for Pine Tree. “It not only represents a significant achievement – being our 75th property – but serves to strengthen our portfolio as we continue our growth strategy to acquire high-quality necessity-based shopping centers across the country with high barriers to entry.”
Constructed in 1987, the property sits at the intersection of Wadsworth Boulevard, Interstate 70 and Interstate 76 – one of the most heavily trafficked intersections in the Denver market. Located in what is considered the gateway to the Arvada/Wheat Ridge retail market, Arvada Marketplace-Connection features prominent frontage and premier visibility along three of Denver’s main traffic arteries. The City of Arvada – anchored by historic Olde Town Arvada located less than a mile north of the shopping center – is poised for significant future growth as new multifamily, residential and commuter rail projects take shape.
“Olde Town Arvada – a registered National Historic Place – and it’s proximity to Arvada Marketplace-Connection presents a unique opportunity to the success of the shopping center as thousands of tourists visit Arvada’s vibrant shopping district and microbreweries each year,” said Zinsmaster. “We believe this acquisition is a commitment to the community of Arvada, including Olde Town, and look forward to improving upon our shared successes going forward.”
The property was acquired from RPAI and brokered by Brad Lyons of CBRE’s Denver Office. Financing was provided by Bank of America.
About Pine Tree Commercial Realty:
Pine Tree Commercial Realty, LLC is a full-service real estate company specializing in retail based in Northbrook, Ill. Since its founding in 1995, Pine Tree has acquired and developed 75 properties with an aggregate value of nearly $870 million. The company’s projects are located across the United States.
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