GREENWOOD VILLAGE, CO—Loja Real Estate has acquired Arapahoe Marketplace, a grocery-anchored community shopping center here. Loja Real Estate purchased the property from a private investor for approximately $46.2 million. The transaction closed on July 3, according to Tom Engberg, CEO of Loja.
Arapahoe Marketplace consists of approximately 192,000 square feet on 17 acres and includes 33 tenant spaces including anchor-tenant Sprouts. 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,” stated Scott Kyman, vice president of acquisitions. “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.”
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
