HFF Secures CO Shopping Center Sale

By Adina Marcut

Tamarac Shopping Center

HFF has arranged the sale of Tamarac Shopping Center, a 68,534-square-foot, fully-leased shopping center in Denver. The company worked on behalf of the seller, DDR Corp. Tamarac Shopping Center 17 A LLC acquired the asset for $20 million.

Located at 3333 S. Tamarac Dr., at the intersection of South Tamarac Drive and East Hampden Avenue, the property offers a Target-shadow-anchored shopping center in the heart of Denver. Additionally, Tamarac Shopping Center is within two miles of the city’s Southeast business corridor.

Built in 1976, the center sits on more than 7 acres and is 100 percent leased. The property comprises three single-tenant buildings leased to national tenants including Chick-fil-A, Benihana, ACE Hardware and Bank of the West, as well as a 33,099-square-foot strip center. Anchored by ACE Hardware, the strip center is leased to 12 tenants with a weighted average tenure of more than eight years.

“The sale of Tamarac Shopping Center represented an opportunity for the new owner to add this high-performing shopping center to their Denver portfolio,” Director Chad Murray said in a statement. “There was a vast amount of competition for the asset, further proving the attractiveness of well-located, high-performing retail centers as an investment strategy.”

Directors Chad Murray and Mark Williford and Managing Director Bryan Ley were part of the investment advisory team that represented the seller. HFF’s latest transaction in Denver included the $11.2 million financing loan for the acquisition of Turnpike Business Park, a 188,077-square-foot, seven-building industrial flex business park.

Image via Google Street View