Broomfield Plaza
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Location:
NEC of 120th Avenue and Sheridan Boulevard - Broomfield, CO
Description:
105,000 SF Hobby Lobby-anchored neighborhood shopping center with Kmart as shadow anchor
SelectedTenants:
Hallmark, State of Colorado Motor Vehicles, Game Xplosion, CU Credit Union, Great Clips, Black Jack Pizza
Value in 2002:
$6.4 million
Value in 2006:
$12.1 million (sale price) – 6.4% capitalization rate
Highlights:
Repositioned Class C- shopping center to solid Class B, based on 2005 redevelopment of center which included:
- New façade
- New architecturally-coordinated monument signs
- New comprehensive landscaping plan
Increased post-redevelopment rents for in-line space by 20 to 40 percent
