The psf price is believed to be the most ever paid for a retail center in the metro area.
Eric Bush, of Bush Development Inc., developed the 19,720-sf center in 2001.Tenants include Panera Bread, Qdoba Mexican Grill, Darcy's Irish Pub and Bistro, BasilDoc's Pizza, Tan The Moon and AT&T Wireless.
"This was an unsolicited sale and is a great opportunity for the purchasers when you look at the explosive residential growth within a one square mile radius," Bush says.
He notes First Allied owns retail and self-storage sites in 22 states and is looking to make other purchases in the Denver area.
Indeed, he expects to sell a large self-storage facility he is expanding on Arapahoe Road to First Allied.
The deal was brought to him by Neil Simpson of Western States Brokerage.
"When a company such as Bush Development researches the marketplace and delivers an outstanding product, success follows," says Simpson.
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