For Immediate Release
Cushman & Wakefield Advises Sale of Wilmore Center Retail/Medical Property in North Denver for $10.25 Million
Wheat Ridge, Colorado asset received many offers
DENVER, Colo, – December 22, 2021 – Cushman & Wakefield has brokered the sale of Wilmore Center, a 52,743-square-foot mixed-use retail and medical property located at 7615 & 7777 W 38th Ave in Wheat Ridge (Denver), Colorado. Approximately 93% leased to a mix of service and medical oriented businesses, the property was acquired by T-2 Ventures, LLC for $10.25 million.
Jon Hendrickson and Aaron Johnson with Cushman & Wakefield’s Denver office represented the seller, DPC Development Company, in the transaction. During its ownership, the seller had renovated the center with new facades, upgraded parking and landscaping, as well as improved common areas.
“Wilmore Center attracts a balanced combination of retail services and medical retailed uses. There was a medical emphasis within the rent roll before the trends of COVID expanded upon them. The Wadsworth Widening Project and Lutheran Medical Center redevelopment will propel this intersection to new heights,” said Jon Hendrickson, Managing Director.
Hendrickson added, “We received many offers for the property due to a stable rent roll featuring some of the lowest lease rates in the submarket. Cash flow on current occupancy with upside, can make for the perfect combination in the anticipated inflationary environment.”
Located in northern Denver and originally built in the early 1980s, Wilmore Center is just a few miles north of downtown Denver. The property is located at a noteworthy retail intersection, with monument signage on both W 38th Ave and Wadsworth Blvd. The property benefits from a strong daytime population and high residential density.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and 60 countries. In 2020, the firm had revenue of $7.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
Media Contact:
Joshua Deale
Cushman & Wakefield
Communications Manager, West Region
+1 415 677 0423
joshua.deale@cushwake.com
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