Highlights
- Size: 126,471 SF
- Sale Date: January 2022
- Property Type: Retail
Property Description
The Carefree Shopping Center, a Multi-Tenant Retail Investment property consisting of 126,471 rentable square feet located at 3315-3541 N Academy Boulevard.
Located in central Colorado Springs, the center holds a premiere position at the gateway to one of the leading communities and benefits from a strong daytime population. The property offers terrific exposure on Academy Boulevard, one of the city’s key retail corridors, with over 52,000 cars passing the shopping center daily. Tenants include Family Dollar, Metro PCS, Human Bean Coffee, Pizza Hut and New Horizons Thrift Store. The property was 98% occupied at the time of sale.
With over $2M spent on recent tenant improvements, significant leasing momentum in the last 15 months, and the addition of a small drive-thru kiosk on the property occupied by Human Bean, Carefree Shopping Center offered the Buyer a stabilized retail investment opportunity in a booming submarket.
Matt Call commented on the Sale “This asset garnered heavy interest from the moment we went to market. With few opportunities to acquire large format neighborhood centers in Colorado Springs we had inquiries from Buyers all over the country. A diverse tenant mix and huge daily traffic counts will make this a strong investment for the Buyer.”
