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Paramount Heights Shopping Center Sells

Posted by Unique News Team on April 20, 2015
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Wheat Ridge, CO  (February 11, 2015) — Unique Properties, Inc., Colorado’s most experienced, privately held, full-service commercial real estate brokerage firm, is pleased to announce the sale of Paramount Heights Shopping Center (also known as Gold’s Grocery), a 15-unit, big-box, retail strip center located in Wheat Ridge, Colorado.

The undisclosed private buyer purchased the Property for $3.1 million dollars and plans to capitalize on the asset because of its value-add potential. Greg Knott and Zach Smith of Unique Properties represented the seller in this transaction.

With the robust influx of people to Denver, and overall increasing residential prices metro-wide, we’re seeing a retail resurgence in many of Denver’s submarkets including Arvada, Littleton, and our listing in Wheat Ridge as many are looking towards these communities to escape the record prices in the central residential markets,” said Greg Knott. “This was a great time for the 30-year-owners of the shopping center to expose their asset to these market conditions. They also operated the retail center’s anchor, Gold’s Grocery for the duration of their ownership,” added Zach Smith.

Constructed in 1959, the shopping center is a well-maintained, value-add property located by the intersection of Kipling and W 26th Avenue. The 60,000 square foot property is positioned on 3.6 acres on the SW corner of Crown Hill Park. Paramount Heights Shopping Center was 97% occupied at time of sale.

To schedule an interview with a Unique Properties Broker regarding this transaction, or for more information about Unique Properties, Inc., from a corporate standpoint, please contact: Natalia Griffin at ngriffin@uniqueprop.com, or 720.881.6320.