October 16, 2024 – We are pleased to announce our acquisition of the Shops at Highpointe, an 18,938 square foot, two-building Essential Service Retail (ESR) shopping center in Denver, CO. The Property is located at the northeast corner of Grant Street and 97th Avenue in the densely populated submarket of Thornton, CO. This transaction is CenterSquare’s 47th essential service retail acquisition nationally and first shopping center in the Denver MSA.
The Shops at Highpointe were originally built in 2008 and are currently 88% occupied. The shopping center experiences approximately 33,800 VPD and is in the immediate vicinity of the #1 Sam’s Club and #7 Walmart in Colorado. The 3-mile trade area boasts a dense population of more than 163,000 residents with an average household income of more than $90,000. The tenant roster includes national tenants T-Mobile, Dickey’s BBQ, and Red Wing Shoes in addition to several long-term local tenants. This investment aligns with our strategy to target unanchored, high-quality essential service retail centers in strong demographic submarkets.
