Gart Properties buys Westminster shopping center
Gart Properties out of Denver recently purchased the Willow Run Shopping center in Westminster for a price of $11 million. The shopping center at North Zuni Street and West 128th Avenue is home to businesses like Subway, Allstate Insurance, McDonald’s and Chase Bank and is anchored by Safeway.
Mark Sidell, president of Gart Properties, said he was interested in the property because he believes it is an underperforming asset with strong potential.
“We hope to realize that potential through focused effort and capital investment,” he said. “Gart Properties has a proven track record of creating success in these types of situations.”
The 91,565-square-foot shopping center is currently 84 percent occupied with several spaces available for lease. Sidell said he plans to fill the center through the focused leasing efforts of his team working closely with the local brokerage community. Because of an appealing demographic, Sidell said he anticipates offering a well-rounded tenant mix to Westminster.
“We plan to give Willow Run the attention to detail we bring as a local owner/operator to all our properties,” he said. “We want to create a long-term value for the neighborhood and our partners by optimizing the experience for our visitors and merchants alike with a mix of restaurants, retailers and service providers.”
Willow Run has spaces available from 1,040 square feet to 6,640 square feet. For more information or leasing information, visit www.gartproperties.com.