Fort Collins Retail Center Sells for Almost $24 Million
University Center, the retail area home to stores such as King Soopers and Wilbur's Total Beverage, has sold for almost $24 million.
The deal was closed on September 24, when the Los-Angeles based CIM Group sold the property to a confidential buyer.
According to Mile High CRE, Brad Lyons, Mike Winn, and Tim Richey of CBRE helped to facilitate the sale, which totaled to $23.75 million.
Calling University Center one of the "premier shopping destinations in Northern Colorado," Lyons said that the property resides on the prime retail corridor of Fort Collins.
University Center is located on South College Avenue near Drake Road. 45,000 vehicles are estimated to pass by the center, which was built in 1953, each day.
Remodeled in 2004, the property boasts almost 69,000 square feet of grocery chains, sporting goods stores, liquor stores, and more.
Given its close proximity to Colorado State University, it is no surprise that the shopping center is so popular...and worth millions.