Denver-based Zuma LLC from LaSalle Advisors and its pension fundclients. The sale was negotiated by Trammell Crow Co.
The property is adjacent to the 1.5 million-sf Westminster Mall,one of the largest regional shopping centers in the metro-Denverarea. Anchors include EMS, REI and Paper Warehouse.WestminsterMall, and surrounding centers, such as the Plaza at Westminster,are bracing from competition from the 1.5 million-sf FlatironCrossing, which opens Aug. 11 in nearby Broomfield. The $220million Flatiron is being developed by Phoenix-based WestcorPartners.The Plaza at Westminster's sale reinforces investors'faith that demographics around the regional mall remain strongdespite pressure from the FlatIron's looming competition, saysSteve Suechting, a Trammell Crow broker.
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