WESTMINSTER, CO-Allstate Life Insurance Co. has sold the Brookhill V shopping center at 9100-90 Wadsworth Blvd. in this city northwest of Denver for $13.8 million. Gerald and Paul Bedrin of New Jersey purchased the center, built from 1995 to 1997.
The Bedrins, who acquired Brookhill V at $84.45 per sf, have a national commercial real estate portfolio worth about $100 million. The center, 95% leased at the time of sale, sold at a 9.17% capitalization rate. Anchor tenants include Stickley and media Play, with three additional pad sites. The center totals 157,235 sf.
The deal was handled by CB Richard Ellis brokers Mary Sullivan, Ron Urgitus, Jeff Brock and Dean Insalaco. Mortgage broker Eric Tupler with the Denver office of LJ Melody & Co. put the financing together.
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