Brookhill is a 305,633-sf, community shopping center located at the northeast corner of West 88th Avenue and Wadsworth Boulevard. It is near the 1.2-million-sf Westminster Mall. Bed Bath & Beyond, Ross and Home Depot are anchors at Brookhill.
"SKB has always believed in the investment potential of the Denver area, and we are pleased to have Brookhill as our first acquisition--the first--with more to come," says SKB founder and principal Bob Scanlan.
The deal was brokered by the CB Richard Ellis investment team of Ron Urgitus, Mary Sullivan and Tim Swan. The team was recently named as the top investment brokers in 2003 by NAIOP.
Urgitus notes Brookhill is exactly the kind of property that investors, both locally and nationally, are looking for because of its location and tenant mix. SKB principal Todd Gooding agrees.
"Brookhill is a textbook example of the kind of property SKB wants for its portfolio," Gooding says. "It's a class B property in a class A location. Significant barriers to new construction, high visibility, high traffic, easy access to the highway and strong demographics all add value to the location, and we're avoiding the high premium that comes with a class A building."
Founded in 1993, SKB actively seeks moderate and high-yielding real estate investments in the Western US. Its clients are high net worth individuals, families and trusts. SKB's total portfolio activity exceeds $1 billion, including properties sold to date and development interests.
SKB owns a wide range of real estate properties in Seattle, Portland, San Francisco, Las Vegas, Reno, Los Angeles, San Diego and Palm Springs.
While this is its first purchase in the Denver area, Urgitus says it's looking for other properties in the metro area.
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