Northglenn shopping center sells for $48 million; redevelopment planned

DENVER BUSINESS JOURNAL - A Connecticut buyer has bought a shopping center at Interstate 25 and 104th Avenue in Northglenn for $48 million and plans to redevelop the complex, which has been plagued by store closures.

An affiliate of Hutensky Capital Partners (HCP) of Hartford, Connecticut, bought the 439,000-square-foot Northglenn Marketplace, located on a 55-acre parcel just west of I-25, according to a city spokesperson. The center -- at 421 W. 104th Ave. -- consists of a cluster of separate buildings around a large parking area.

Current tenants include Bed Bath and Beyond, Ross Dress for Less, Office Depot, PetSmart and JoAnn fabrics and crafts. (Adjacent buildings housing a Lowe's home-improvement store and Woodley’s Fine Furniture are separately owned.)

But the complex also has seen a number of store closures in recent times, including the shutdown of a Sports Authority location as that chain folded last year. Other tenants have closed, gone bankrupt or relocated as well, including Borders and Circuit City, leaving several empty storefronts.

Read more at the Denver Business Journal: http://bit.ly/2yvSWC8

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