Greeley’s CenterPlace mall sold for $37.55 million – Loveland Reporter-Herald

A 152,000 square foot mall in Greeley has been sold for $37.55 million.

CenterPlace of Greeley, a mall located at 47th Street and US 34 that is anchored by a Safeway grocery store and includes a Bank of America branch, a Tokyo Joe’s restaurant, a dental office, and retailers such as Ross Dress for Less, Famous Footwear, Cold Stone Creamery, has been purchased by real estate investment trust Slate Grocery, according to Ryan Bowlby, senior director of Institutional Property Advisors, a division of Marcus & Millichap. IPA represented the seller, InvenTrust Properties, and procured the buyer.

“CenterPlace of Greeley dominates its area and features a mix of primarily national tenants that occupy 94% of the total gross leasable area,” Bowlby said in a press release. “We had a robust market response from investors nationwide, resulting in a final and highly competitive bidding round.” Slate Grocery REIT, he said, “quickly conducted due diligence and closed, despite recent national economic turmoil.”

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