Arapahoe County
Property Location: 7562-92 S. University Blvd, Centennial, “Southglenn Square”
Property Description: 58,304-sf shopping center, YOC 1984, brick construction
Land Size: 4.01 acres
Sales Price: $5.25M, or $90.05 per sf
Reception No.: D6069330
Closing Date: 6/28
Grantor: Greenbriar Inc., Darrel Schmidt, representative of non-disclosed seller
Grantee: Southglenn Square LLC, c/o Alberta Development, Peter Cudlip, principal, 303-770-4004
Financing: $5.58M payable to Guaranty Bank & Trust
Comments: The property was listed by Brad Cohen, 303-407-1470, and Larry Thiel, 303-407-1471, of Transwestern for $5.86M in January. The property was over 91% occupied but lost a few tenants during the due diligence period. The cap rate on the existing occupancy at time of closing is 5.5%. The property is on the east side of South University approximately 500’ south of E. Dry Creek Rd. Seller purchased the center for $5.38M May 4, 2000.
Comp of the Day is provided by John V. Winslow, president of WinComps LLC. Winslow has more than 40 years’ experience in commercial real estate. He can be reached at 720-612-7878 or Colprop2012@gmail.com.
