Revesco Properties Disposes of CO Mixed-Use
- Jan 10, 2018
HFF has secured the sale of Olde Town Plaza, a 19,673-square-foot transit-oriented, mixed-use property located in Arvada, Colo. Directors Chad Murray and Mark Williford were part of the investment advisory team working on behalf of the seller, Revesco Properties.
Located at 5773-5777 Olde Wadsworth Blvd., at the entrance of Olde Town Arvada, the three-story building is a 10-minute drive from downtown Denver and minutes from various shopping, dining and entertainment venues such as Olde Town Arvada Park and Ride, Arvada Flour Mill Museum, Starbucks and Johnny Roberts Disc Golf Course and Park. Additionally, Olde Town Plaza is two blocks from the Olde Town Arvada RTD Light Rail Station, which is scheduled for completion this year.
Built in 1938, the property is a mix of retail and residential building offering more than 10,000 square feet of ground-floor retail and 17 units averaging 519 square feet. The pet-friendly community offers one- and two-bedroom units and includes on-site laundry, hardwood floors and bike racks.
“Olde Town Plaza was a unique opportunity to acquire a transit-oriented, mixed-use asset at ‘Main and Main’ in one of the hottest growth submarkets of Denver,” said Williford. “The former owner had implemented a successful value-add strategy, and the new owner intends to continue executing on that strategy through the project’s completion.”
Recently, HFF brokered the sale of Resurgens Plaza, a 402,929-square-foot Class A office tower in Atlanta‘s Buckhead submarket.
Image via Google Maps