Colorado Real Estate Journal -
Tiffany Plaza traded in an off market transaction for $47 million. AmCap Inc., a national owner and manager of grocery anchored centers, purchased the 214,411-square-foot center. A 58,900-sf Whole Foods – the second best-performing Whole Foods in Colorado – anchors Tiffany Plaza, which is located at 7300-7800 E. Hampden Ave., at the corner of Hampden and Tamarac Square, in Denver. “The center fits neatly into AmCap’s preference for dominant, supermarket-anchored shopping centers in wealthy and populated top 50 U.S. city neighborhoods,” commented Jason Lui, managing director of AmCap Inc. “We are enormous fans of the Denver market due to its growing economy, its highly educated population and its strong bias for technology leadership. Furthermore, AmCap’s asset management and leasing teams are also based in our regional headquarters in Colorado, which makes the property a strong synergistic addition to the AmCap portfolio,” he continued. Petco, which recently opened its 12,538-sf store, and 24 Hour Fitness also anchor the center, which was constructed in 1978 and 1979 and renovated in 2004 and 2005. At the time of sale, Tiffany Plaza was 94 percent occupied. No brokers were involved in the transaction. Also in the fourth quarter, AmCap acquired the Marketplace at Austin Bluffs in Colorado Springs. The firm purchased the King Soopers-anchored center, one of the best-performing locations for the chain in the state, for $32.81 million.