Loveland, CO, January 8, 2015: A prominently located Loveland shopping center has just been sold to a Loveland-based investment group as the newest acquisition in a Northern Colorado investment portfolio. The property, known as the “The Shops on 29th”, is located at 216 – 288 E. 29th Street and is comprised of 17 tenants, all retail users. It was purchased by 216 East 29th Street, LLC, a subsidiary of Loveland Commercial, LLC, for $4,575,000.
This 36,990 SF center is visibly positioned between Lincoln Avenue and East 29th Street in mid-town Loveland. Tenants include Papa John’s, Subway, Fantastic Sams, Curves, Trans Martial Arts, Today’s Nails and Loveland’s Oasis Aesthetics, to name a few.
The Shops on 29th was purchased in 2013 by 29th Street Plaza LLC, a Northern Colorado investment group managed by Brinkman Partners. At the time of purchase, the property was 64% occupied. Within the last year-and-a-half, the center has undergone significant capital improvements, where the ownership group was able to increase occupancy to 92%.
Josh Guernsey, Greg Roeder and Jake Arnold of Brinkman Partners represented the ownership group in the sale, and Nathan Klein of Loveland Commercial represented the Buyer.