In addition, to Broadway Marketplace, Trammell Crow handled the sale of Boulder Plaza for $24.75 million earlier this year and is scheduled to close on another $30-million asset before year-end. The common thread that makes all of these properties desirable are their supply-constrained locations. These assets generated tremendous investor competition, Suechting says.

"We've been able to do a good job adjusting to market conditions for our clients," says Ann Sperling, who heads Trammell Crow's Denver office. "Our investment sales team is strong in all product types, and has done a great job of working with sellers and buyers in the current hot market for retail product."

The strong demand for retail assets is likely to continue until interest rates rise significantly and until the office market sector shows signs of recovery, Suechting says.

Office assets generally account for more than 60% of institutional capital allocated to real estate. This percentage has dropped significantly because of the gap between buyers and sellers expectations in most markets across the country, he says.