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BROOMFIELD, CO-NewMark Merrill Cos. of Woodland Hills, CA has acquired Bloomfield Plaza, a 105,000-sf shopping center here with about 20 tenants. The center was built in 1979 and renovated in 2005. The purchase price was $10.2 million.
The center sits on 10.7 acres at the intersection of W. 120th Avenue and Sheridan Boulevard. The property is anchored by Hobby Lobby. Other known tenants include Hallmark, UPS Store, Sherwin Williams and Tuesday Morning.
The seller was Paul Luber, president of Denver-based Starr Realty. Mike Winn and Tim Richey with Cushman Wakefield represented Starr Realty.
NewMark Merrill was represented in-house by its CEO, Sandy Sigal, acquisitions director Jim Patton. Also working with NewMark on the deal was Allen Ginsborg of Poudre Partners. Ginsborg, the founder of Pacific Retail Partners, has developed or leased more than 15 million sf of shopping center space in California and Colorado.
The acquisition lender was PNC Commercial Finance. The financing was arranged by Gary Mozer, Lee Norman and Steve Orchard with George Smith Partners.
NewMark is currently developing and remodeling shopping centers in the California cities of Ontario, Thousand Oaks, San Diego, Rialto, Oceanside, Carson and Upland.
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