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Centennial Commons Sells for $11.35M

Shoup Commons LLC Acquires Colorado Springs Neighborhood Center
May 4, 2006
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.
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