Loja Acquires Sprouts Anchored Shopping Center Located in Denver, Colorado

Located in the Greenwood Village community center in Denver, the property is valued at $46.2 million

Walnut Creek, CA, 7-9-2014—Tom Engberg, CEO of Loja Real Estate, announced the acquisition of Arapahoe Marketplace, a Sprouts anchored community shopping center located in Greenwood Village, Colorado. Loja Real Estate purchased the property from a private investor for approximately $46.2 million. The transaction closed on July 3, 2014.

Arapahoe Marketplace consists of approximately 192,000 square feet on 17 acres and includes 33 tenant spaces; the center is currently 82.4% occupied. The property is located at the intersection of Arapahoe Road and Yosemite Street adjacent to Interstate 25 in Greenwood Village a suburb southeast of Denver.

“We are very pleased to add Arapahoe Marketplace to the Loja portfolio. The acquisition fits our core-plus acquisition criteria and represents the ability to own a well located, successful shopping center with the ability to grow NOI in the short term through our lease-up and remerchandising strategies.” stated Scott Kyman, Vice President of Acquisitions

In addition to its core-plus acquisition initiative, Loja is pursuing quality single-tenant grocer acquisitions throughout the United States. Loja currently has in excess of $100 million of additional properties under contract or in its active pipeline.

About Loja

Loja Group LLC is a real estate investment management firm with $200 million in assets under management. Through Loja Real Estate, LLC, a wholly-owned subsidiary, Loja acquires and manages commercial real estate assets throughout the United States. Additional information about Loja may be found at www.lojagroup.com.

Contact:
Scott Kyman, Vice President, Acquisitions
Office: 925-935-4405, ext. 6
[email protected]

Category: Corporate News

 
 

About Us

The Loja team includes cycle-tested real estate industry veterans as well as fund managers experienced in multiple asset classes in various currency and interest rate environments.

Phone: +1 925.951.0630

2099 Mt. Diablo Blvd., Suite 200
Walnut Creek, CA 94596

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