REIT purchases Fairfield Commons shopping center in Lakewood

LakewoodShoppingCenterLess than two months after welcoming a new Sprouts as an anchor store, a Lakewood shopping center has courted a new owner.

Phillips Edison Grocery Center REIT II, an entity of Cincinnati-based Phillips Edison & Co., bought the Fairfield Commons shopping center at Wadsworth Boulevard and First Avenue for $34.28 million on Feb. 25, Jefferson County property records show.

The center has about 143,400 square feet of retail space anchored by the Sprouts Farmers Market that opened in January. It was the grocery brand’s first location in Lakewood.

Fairfield Commons was built in 1985 and its tenants include TJ Maxx, Planet Fitness, Rue 21, the Mattress Firm and CitiFinancial. Stand-alone Chili’s and Black-Eyed Pea restaurants also were included in the acquisition.

In a prepared statement, Phillips Edison & Co. said the deal was part of its strategy to build a portfolio of grocery-anchored shopping centers in growing markets. The real estate company already owns the King Soopers-anchored Foothills Shopping Center in Lakewood and the Safeway-anchored Kipling Marketplace in Littleton.

 

LakewoodShoppingCenterLess than two months after welcoming a new Sprouts as an anchor store, a Lakewood shopping…

You must be a member to access BusinessDen's exclusive reporting.

Your subscription has expired. Renew now by choosing a subscription below!

For more informaiton, head over to your profile.

Profile


SUBSCRIBE NOW

TERMS OF SERVICE:

ALL MEMBERSHIPS RENEW AUTOMATICALLY. YOU WILL BE CHARGED FOR A 1 YEAR MEMBERSHIP RENEWAL AT THE RATE IN EFFECT AT THAT TIME UNLESS YOU CANCEL YOUR MEMBERSHIP BY LOGGING IN OR BY CONTACTING AARON@BUSINESSDEN.COM.

ALL CHARGES FOR MONTHLY OR ANNUAL MEMBERSHIPS ARE NONREFUNDABLE.




Return to Homepage

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments