GREENWOOD VILLAGE, CO—Loja Real Estate hasacquired Arapahoe Marketplace, agrocery-anchored community shopping center here.Loja Real Estate purchased the property from a private investor forapproximately $46.2 million. The transactionclosed on July 3, according to TomEngberg, CEO of Loja.
Arapahoe Marketplace consists of approximately 192,000square feet on 17 acres and includes 33 tenantspaces including anchor-tenant Sprouts.The center is currently 82.4% occupied. Theproperty is located at the intersection of Arapahoe Road andYosemite Street adjacent to Interstate 25 in Greenwood Village asuburb southeast of Denver.
“We are very pleased to add Arapahoe Marketplace to the Lojaportfolio,” stated Scott Kyman, vice president ofacquisitions. “The acquisition fits our core-plus acquisitioncriteria and represents the ability to own a well located,successful shopping center with the ability to grow NOI in theshort term through our lease-up and remerchandisingstrategies.”
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
