Leetsdale Marketplace, a 111,669-square-foot grocery-anchored shopping center in southeast Denver, changed hands on Feb. 9 for $13 million. The buyer is a partnership led by Citivest Commercial, stepping into a mostly leased but noticeably underperforming 1992-built property at 7150 Leetsdale Drive.
The center was roughly 59% leased at the time of sale and includes discount grocer Save A Lot among its 18 tenants. With a high-traffic corner at Leetsdale Drive and South Quebec Street, the new owners are setting their sights on leasing and repositioning to squeeze more life and revenue out of the site.
Deal details
Cushman & Wakefield represented the seller, Legacy Capital Partners, in the transaction. Broker Jon Hendrickson pointed to the center’s “efficient layout” and infill location as key reasons investors were willing to bet on a half-empty property.
According to Mile High CRE, the deal closed for $13,000,000, with Jon Hendrickson and Aaron Johnson serving as the broker team on the sale.
Property snapshot
The shopping center sits on an L-shaped footprint, with storefronts oriented toward either Leetsdale Drive or Quebec Street. Marketing materials peg the total at about 111,669 rentable square feet…