LOVELAND, CO-Although not large by Denver-area standards, broker Jason Ells of Realtec Commercial Real Estate Services tells GlobeSt.com that the acquisition of 34 Marketplace is the biggest retail sale so far this year in northern Colorado. "The Shops at Centerra is being developed in Loveland, and that has 750,000 sf, so that obviously is a bigger retail development," Ells says. "But I think it is safe to say this is the largest retail sale in northern Colorado so far this year."

A local group with seven investors, 34 Marketplace LLC, paid $8.5 million for the shopping center. "It's a local entity with seven members, including myself," Ells says. Fellow Realtec broker Larry Stroud was also a broker on the deal as well as an investor, he says. Tom Reznic, of the Realtec-Loveland office, represented the seller.

The 34,438-sf center was built in 2003 and is located along Highway 34 near Interstate 24. The general contractor was Coe Construction Inc. Asked by GlobeSt.com if the center is 100% leased, Ells says: "It is and it isn't. We bought it as if it were 100% leased. There is a couple of small vacancies, but we have deals pending to fill them."