Highlights
- Size: 26,033 SF
- Sale Date: November 2019
- Property Type: Office/Retail
Property Description
Well-located at the entrance to The Meadows community, Meadows Town Center is situated directly west of the new $300 million Centura Adventist Hospital campus, and just two miles east of I-25, near the Castle Rock Outlets which rank in the top ten most-visited attractions in Colorado.
Built in 2017, asset is comprised of 2 buildings connected by a second-floor hallway and is currently 100% occupied by 5 tenants of which 71% are medical tenants and 29% are restaurant tenants. Meadows Town Center is a focal point where residents can shop, eat, work, and call home.
According to Witt, “Meadows Town Center I received significant interest from private equity and family office investment groups with multiple immediate offers. The seller was a Denver based development company who built the building in 2017 and the sale in November was to a high net worth individual who was in a 1031 exchange. The building is well located with a suburban main street location and an excellent mix of medical and retail tenants on long term leases. The acquisition was financed with an insurance company who offered an interest rate below 3.5%, signaling a continued demand for all lenders in the commercial real estate market.”
