Leetsdale Retail Center Sells For $13M: The Denver Deal Sheet
A Cherry Creek-area shopping center sold for $13M in a transaction arranged by Cushman & Wakefield.
Leetsdale Marketplace, 7150 Leetsdale Drive, is a 111K SF retail center anchored by Save A Lot grocery store. The property, originally built in 1992, is 59% leased to 18 tenants with an average in-place rent of $17.15 per SF.
A partnership led by Cityvest Commercial acquired the property from Legacy Capital Partners.
PEOPLE
Design firm KTGY hired Craig Lawrence as an associate principal in its Denver office to help lead the for‑sale residential studio and support design work across the region.
Lawrence brings nearly 20 years of experience and a background in luxury residential, boutique hospitality, commercial and multifamily developments. He currently serves as vice chair of Denver’s Lower Downtown Design Review Commission and co‑chair of the housing committee for the Colorado branch of the American Institute of Architects.
SALES
Bear Peak Development acquired an 87-acre master-planned community off Highway 83 between Castle Rock and Parker in Douglas County. Pinery Village Phase II includes 53 buildable acres for a range of commercial uses, including retail, medical, professional services, light industrial, flex, self-storage and recreation.
JLL brokered the transaction.
LEASES
Flatiron Crossing, a Broomfield shopping center, announced six new tenants: Abercrombie & Fitch, Earthbound Trading Co., Garage, Gorjana, Levi’s and Starbucks. All are expected to open this year.
THIS AND THAT
The Finale Development Partnership is constructing the Imperial Hotel and launching sales at the Imperial Chalets at the base of Breckenridge Ski Resort’s iconic Peak 8. The 36-key hotel, which will be the last slopeside hotel at the resort, will have a partial opening in December 2027, while a full completion is slated for 2029.
The chalets will have 13 units, ranging from two to five bedrooms and spanning around 1,200 SF to almost 4K SF. Phase 1 sales will start at $4.9M.
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Downtown Denver’s January pedestrian activity reached 94% of January 2019 levels, according to the Downtown Denver Partnership. The return-to-office rate was 65%, and office vacancy remained at 29%. Six new ground-floor businesses opened in downtown last month.
