Westminster REO shopping center snagged for $42.76 per square foot

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Jefferson County

Property Location: 6735- 6795 W. 88th Ave., Westminster

Property Description: 99,397-sf retail building, YOC 1989, masonry construction, renovated in 2004

Land Size: 8.448 acres

Sales Price: $4.25M, or $42.76 psf

Reception No.: 2017101132

Closing Date: 9/30

Grantor: 6755 West 88th Avenue Holding LLC, Alex Killick, SVP for CW Capital Asset Management, by: Wells Fargo Bank, NA Trustee

Grantee: Westminster LLC, J. Matthew Stephens, mgr., Cincinnati, OH 45208

Financing: $5.25M due 10-1-22 payable to First Financial Bank

Comments:  Parcels A & B, Westglenn Subdivision No. 4; tenants include Dollar Tree, Guiry’s – 25,130 sf & Fruehauf’s – 35,730 sf. See APN: 29-234-008, 29-234-04-010, & 29-243-07-001. Occupancy was 81.5% at time of closing.

Comp of the Day is provided by John V. Winslow, president of Winslow Property Consultants. Winslow has more than 40 years’ experience in commercial real estate. He can be reached at 720-612-7878 or Colprop2012@gmail.com.