InvestTrust Acquires Shops at Walnut Creek

WESTMINSTER, CO—InvestTrust Properties has acquired the Shops at Walnut Creek, a 216,325 square foot, 93% leased shopping center here for $57.1 million.

“Walnut Creek meets all of the key criteria in our acquisition strategy, and we are pleased to be adding this property to the InvenTrust portfolio,” said Michael Podboy, executive vice president, and chief investment officer of the Illinois-based firm. “Walnut Creek is a core retail asset in a high barrier to entry market that enhances our current portfolio population density, income statistics and calculated average base rent. Walnut Creek’s strategic location, including its immediate adjacency to the highway, facilitates easy and convenient access from both Boulder and the rest of the Denver metro area. The premier location combined with its synergy with a nearby promenade will drive a steady flow of traffic to the center.”