Aurora Plaza, a 115,000-square-foot shopping center east of Denver, has been acquired for $16 million by Sidford Capital LLC, a Denver-based commercial real estate leasing and management company.
The shopping center, 15001-15293 E Mississippi Ave., covers 10.60 acres and is 80% occupied.
It attracts more than 740,000 visitors annually and features 27 tenants, ranging from medical offices and service providers to restaurants and retail shops. Tenants include Hero Dental, Kid to Kid, Rent-A-Center and Domino’s Pizza.
JLL Capital Market’s Investment Sales and Advisory team, representing the seller, was led by Managing Director Jason Schmidt and Director Austin Snedden.
“The impressive leasing activity at Aurora Plaza, with 29,000 square feet of new deals in just 24 months, demonstrates the center’s strong appeal in this high-traffic location,” said Schmidt.
“With exposure to 88,000 vehicles daily and the diverse tenant mix shown in the property marketing, this investment offers significant value-enhancement opportunities.”
Aurora property records show that the seller, Aurora Retail LLC, sold the property on May 23 to Aurora Plaza LLC, which is affiliated with Sidford.
Originally built in 1982 and renovated in 2001, the property is in a dense retail corridor, across from King Soopers, and is surrounded by national retailers such as Walmart, Sam’s Club, Target, PetSmart, Best Buy and Dollar Tree.
“This transaction highlights the continued investor appetite for well-located neighborhood retail centers with value-add components,” Snedden said.
Founded in 2001, Sidford has a diverse portfolio of retail, office, warehouse, manufacturing and storage space. Sidford manages and leases over 750,000 square feet of commercial real estate owned, according to their website.
A few of the company’s property holdings include Meadows at Lone Tree, Centerpointe Plaza and Westminster Square.
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