Arizona Firm Acquires Highlands Ranch Retail

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DENVER-A piece of the Highlands Ranch Marketplace has changed hands for $10.15 million. A&C Properties Inc. of Arizona acquired 39,195 sf of fully leased in-line shop space and one stand-alone building at the center. Two other pads and a vacant former Albertson’s grocery store at the center were not part of the deal.

Opened in 1995, Highlands Ranch Marketplace is located 14 miles from Denver at the intersection of South University Boulevard and Highlands Ranch Parkway. The shop space is 100% leased to 17 national, regional and local tenants.

The pad included in the sale is occupied by Burger King. The shop tenants include Hallmark, Sylvan Learning Center, Quizno’s Subs, Dairy Queen, the UPS Store, Highlands Ranch Dental Center, Highlands Ranch Wine & Spirits, Pro Nails and Valor Christian School.

Albertson’s closed its store at the center in July 2006. The pads not included in the sale are occupied by First bank and Conoco. Neither the grocery anchor nor the unsold pads are owned by the seller.

Garrette Matlock and Jon Hendrickson of Marcus & Millichap’s locally based Matlock Group had the disposition assignment. The seller is listed as Highland Ranch Marketplace LLC.