Investors have preferred stable and established retail centers ahead of all other Colorado investment opportunities in 2002, say Steve Suecthing and Leslee Superchi of Trammell Crow, who handled the sale. Crow Holdings, the family investment vehicle of real estate legend Trammell Crow, is not tied to Trammell Crow, which is publicly traded.

Cherry Hills Marketplace is 99% leased, with only one vacancy, Suechting tells GlobeSt.com.

So far this year, Suechting has sold more than $100 million in retail properties. His largest sale was Broadway Marketplace, which sold for $43 million. The only larger retail deal in the state was the $96-million sale of two factory outlet stores, which was handled by CB Richard Ellis broker Mary Sullivan.