Colorado Springs retail property acquisition financed with bank loan
JLL Capital Markets arranged the financing for the Springs Ranch Shopping Center neighborhood retail strip center
DENVER, April 6, 2022 – JLL Capital Markets announced today that it has arranged acquisition financing for Springs Ranch Shopping Center, a 44,000-square-foot neighborhood retail center in Colorado Springs, Colorado.
JLL worked on behalf of the borrower, Denver-based Sedgwick Real Estate Partners, to place the loan with a regional bank.
Constructed in 2005, Springs Ranch Shopping Center is home to a diverse mix of 14 national, regional and local tenants, including Qdoba, Amy’s Donuts, All Smiles Dentistry and Mici Italian. The property is an outparcel to a regional power center anchored by the fifth busiest Super Target in Colorado, T.J.Maxx, HomeGoods, Ross Dress for Less and JoAnn Fabrics and Crafts, all of which drive traffic to the asset.
Springs Ranch Shopping Center is positioned on 4.66 acres at 3703-3765 Bloomington St. in Colorado Springs within one of the most sought-after retail corridors in the Front Range region. The property is at the high-traffic intersection of Bloomington Street and North Carefree Circle near Power Boulevard, which is a major throughfare with traffic counts of 65,000 vehicles per day. The area surrounding the property is exploding with development, with new multi-housing units and the future UC Health Eastview Medical Center under construction.
The JLL Retail Capital Markets team representing the borrower was led by Director Rob Bova.
“The borrowers, under the leadership of Principals Brandon Rogoff and Rick Miller, did a great job identifying this investment opportunity,” Bova said. “Given the strength of the borrower and the proven demand for the space at this property, there was a lot of interest from bank lenders that understand the growth dynamic in this market.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 98,000 as of December 31, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Sedgwick Real Estate Partners
Sedgwick Real Estate Partners is a private commercial real estate company with a focus on acquiring and operating urban-oriented, community and neighborhood shopping centers along the Front Range in Colorado and select markets in the Southwest. For further information, visit sedgwickrepartners.com.