Shoup Commons LLC purchased the Centennial Commons Shopping Center at 4645-4685 Centennial Blvd. in Colorado Springs, CO for $11.35 million, or approximately $197 per square foot.
The 57,640-square-foot neighborhood center delivered in 1997 and sits on approximately five acres. Tenants include World Gym and Veda Salon & Spa, along with a mix of smaller restaurant, medical and retail businesses.
The sale was a 1031 exchange for the buyer.
Daniel Grooters and Riki Hashimoto of Grubb & Ellis represented the buyer. Michael Pourmirza with Sperry Van Ness represented the seller, Centennial Commons LLC.