CBRE Completes 14-Acre Land Sale in Thornton for New King Soopers at Amber Creek
04 Nov 2020
CBRE announced that it has completed the sale of 14 acres in Thornton, Colo., for the construction of a large-format King Soopers grocery store and fuel center in the master-planned Amber Creek community. Jon Weisiger and Jim Lee of CBRE’s Denver office represented the seller, Stratus Companies of Greenwood Village, Colo. Dillon Companies, Inc. (owned by The Kroger Co.) of Cincinnati, purchased the land for an undisclosed price and was represented by an outside firm.
“Grocery has long been a standout performer in the Denver retail market, and its critical importance has been reinforcedby the COVID-19 pandemic,” said Mr. Weisiger. “Additionally, we are seeing extraordinary housing growth in Thornton, which is driving demand for close-to-home grocery options.”
Construction is scheduled to start this quarter, and King Soopers plans to open the new 123,000-sq.-ft. store and fuel center in 2021.The land is located at the southwest corner of Quebec Street and 136th Avenue in Thornton, just south of the new E-470 and Quebec interchange.The site is within the Amber Creek residential and commercial development, a master-planned community by Stratus Companies with 332 single-family homes and 102 paired units that broke ground in 2016.
“Kings Soopers addition to the development and community is a perfect conclusion of the project,” said Richard Dean, Founder and CEO of Stratus Companies.
The grocery store is part of a larger shopping center that will have additional retail options. CBRE’s Weisiger and Lee have been retained to market five pad sites for sale available along both Quebec Street and 136th Avenue.
“The recent infrastructure improvements have transformed this corner into a well-trafficked intersection. The pad sites available for development would be a strategic fit for a variety of retailers looking to benefit from proximity to King Soopers, including banks, credit unions, restaurants, medical tenants, car washes, auto services or daycare centers, among others,” added Mr. Lee.
The pad sites range in size from approximately 47,000 sq. ft. to 62,000 sq. ft.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.