Search
 

Vestar Pays $76M for Denver Area Shopping Center

DENVER—Vestar plans to invest significant capital to expand the shopping center to include new retail, restaurants and a multifamily component.

By Natalie Dolce | nataliedolce | | Updated on March 04, 2016
Bowles Crossing Bowles Crossing
DENVER—Phoenix based Vestar has acquired Bowles Crossing, a regional shopping center in the Denver suburb of Littleton, CO. The purchase price was $76.15 million. Bowles Crossing is located at 8055 West Bowles Ave. at the northeast corner of Wadsworth Blvd. and Bowles Ave. Totaling 409,457 square feet and situated on 53.98 acres, the center is one of the top regional shopping destinatio ns in the southwest Denver metro area. Bowles Crossing includes Trader Joe’s, DSW Warehouse, Ross Dress for Less, Gordman’s, and a newly renovated AMC Theatre among others. Vestar plans to invest “significant capital” to expand the shopping center to include new retail, restaurants and a multifamily component. The firm could not disclose a price to GlobeSt.com at this time on how much they plan to invest. “Over the past 12 months, Vestar has acquired five retail ce nters valued at $670 million throughout the western states,” says Clint Marchuk , vice president of acquisitions with Vestar. “Our goal is to continue acquiring strategic centers in key markets with strong demographics.” As GlobeSt.com previously reported, the firm recently was attracted to another nearby state with the purchase of a 623,205-square-foot open-air retail and entertainment center within The Gateway in the heart of downtown Salt Lake City. It was the firm’s first acquisition in Utah. There, the firm plans a strategic plan in place to invest $30 million in revitalizing and rebranding the center.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.