FORT COLLINS, CO—HFF says it has closed the sale of Front Range Village, an 811,371-square-foot mixed-use hybrid shopping center here.

HFF marketed the property on behalf of the sellers, a joint venture between Bayer Properties and institutional investors advised by J.P. Morgan Asset Management. Ramco-Gershenson Properties Trust purchased the asset for an undisclosed amount.

Completed in 2008, Front Range Village is located on 67.04 acres at the intersection of Harmony Road and Ziegler Road, which is approximately 65 miles north of Denver.  The portion of the center included in this sale totals 459,780 square feet and features 78,274 square feet of  second-story, class A office space that is fully occupied and 381,506 square feet of retail that is 97% leased to tenants including Toys 'R' Us, Babies 'R' Us, Sports Authority, Sprouts Market, Sephora, Cost Plus World Market,  DSW Shoes, Charming Charlie, Party City and Ulta Beauty.   The center is shadow-anchored by Super Target and Lowe's Home Improvement.

The HFF investment sales team representing the sellers was led by senior managing directors Barry Brown and John Jugl, managing director Ryan Shore and senior real estate analyst Aaron Johnson.

Birmingham, AL-based Bayer Properties LLC specializes in developing, leasing, managing and marketing mixed-use real estate properties nationwide.  Bayer Properties currently owns and/or operates retail and office properties totaling approximately 10 million square feet, such as The Summit in Birmingham, Alabama; Mount Pleasant Town Centre in Mount Pleasant, South Carolina; and The Summit in Reno, Nevada.  New developments include The Pizitz Building urban revitalization project in Birmingham, Alabama and The Summit at Fritz Farm, a mixed-use project in Lexington, Kentucky.  J.P. Morgan Asset Management – Global Real Assets has more than $76 billion in assets under management and more than 400 professionals in the U.S., Europe and Asia, as of June 30.

Ramco-Gershenson Properties Trust is a fully integrated, self-administered, publicly-traded real estate investment trust (REIT) based in Farmington Hills, MI.

The company's business is the ownership and management of multi-anchor shopping centers in strategic metropolitan markets throughout the Eastern, Midwestern and Central United States.  At June 30, 2014, the company owned and managed a portfolio of 78 shopping centers and one office building with approximately 15.6 million square feet of gross leasable area owned by the company or its joint ventures. The properties are located in Michigan, Florida, Ohio, Georgia, Missouri, Colorado, Wisconsin, Illinois, Indiana, New Jersey, Virginia, Maryland and Tennessee.  At June 30, 2014, the company's core operating portfolio was 95.7% leased.

HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. HFF operates out of 23 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry.