Boulder-Area Retail Center Sells for $73.8M
Walton Street and regional partner secure $36.9M in acquisition financing for the 364,000-square-foot Harvest Junction in Longmont, CO
A joint venture between Wafra and Pine Tree has secured $36.9 million acquisition financing to close the $73.8 million sale Harvest Junction, a 364,000-sqaure-foot retail park located in Longmont, Colorado within the Boulder MSA.
JLL represented the seller, a joint venture between Walton Street Capital and a regional operating partner. Working on behalf of the new owner, JLL also secured the seven-year, interest only, fixed-rate loan through a correspondent life insurance company.
Built in 2006, the 97-percent-leased center is home to Lowes, Ross, Marshall’s, Best Buy, Dick’s Sporting Goods, Michael’s, Petco, Staples, DSW and more.
Located at 205 & 210 Ken Pratt Blvd., the center serves the communities of Longmont, Loveland, Greeley, Boulder and Fort Collins areas. Harvest Junction is also 20 miles from the University of Colorado and close to UC Longs Peak Medical Center and the new JM Smucker Plant.
The JLL Retail Capital Markets Investment Sales and Advisory team that represented the seller was led by Senior Managing Director Barry Brown and Managing Directors Bryan Ley and Jason Schmidt. Senior Managing Director Eric Tupler and Director Will Haass led The JLL Capital Markets Debt Advisory team.