Parkside @ City Center

Jones Lang LaSalle Americas, Inc. (“JLL”), as exclusive advisor, is pleased to present the opportunity to acquire Parkside @ City Center (“The Property”), a newly constructed 24,985 SF three-building retail strip center located at the intersection of Alameda Avenue and Stable Boulevard, in Aurora, Colorado. Constructed in 2021, The Property is comprised of 11 tenants, including a diverse range of national and local brands including Five Guys, Cheba Hut, and Einstein’s. Parkside @ City Center features an excellent mix of retail, entertainment, and restaurant tenancy that creates a unique experiential shopping experience that is difficult to replicate. Currently 82.5% leased, the Property has a strong weighted average lease term of 4.7 years, and strong interest and leasing activity with four LOI’s on Unit C in Building B, and two LOI’s on Unit F in Building B, which would bring the Property to 92% occupied.

The center is located steps away from a 216 unit Class-A apartment complex, providing a steady flow of customers. Additionally, located directly across the street is the Town Center at Aurora shopping mall, hosting large format retailers such as Dillard’s, Macy’s, and JCPenney. The site benefits from high visibility and easy accessibility and sees over 64K vehicles per day, all while being 20 minutes from Denver International Airport and Downtown Denver. Aurora has seen more than a 5,300 multifamily unit expansion in the past 10 years and is expected to deliver 3,700 units over the next few quarters, with many of these units being in the immediate area. Over the past five years, rents grew 24.8% in Aurora, making it a desirable submarket for retailers looking to attract affluent customers. This area is also home to large employers including Fitzsimons Medical District, Buckley Space Force Base, and Aurora Municipal Center, with over 11,000 jobs within just a half mile radius.