MILE HIGH CRE - Dunton Commercial Buys Pueblo Retail Center
- News
- January 11, 2021
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- cushmanwakehj
Greenwood Village-based Dunton Commercial, a professional, commercial real estate company offering property management, accounting, investment, and advisory services, has purchased a 90,000-square-foot retail center in Pueblo, for $5,980,000. The acquisition also included four outparcel pad sites.
The seller, according to county records, was Belmont Squared LLC, which is registered to Stephen Elken. The sale closed on December 24, 2020
Located at 1102-1204 Bonforte Boulevard & 1002-1026 Constitution Road, the center was roughly 76 percent occupied at the time of sale. Tenants include, Save-a-Lot Grocery, Family Dollar, Auto Zone, Pizza Hut, Rent-a-Center and more. Built in the 1950s, the property underwent renovations in 2011.
“We targeted Belmont Shopping Center due to the strong in-place mix of service based tenants and stable cash flow. There is nice upside in leasing the remaining 20,000 square feet of vacancy,” said Nate Melchior, principal of Dunton Commercial.
Jon Hendrickson, Mitch Veremeychik and Aaron Johnson of Cushman & Wakefield’s Capital Markets team in Denver represented the seller in the transaction.
