FORT COLLINS — Stan Kroenke has expanded his shopping-center holdings along the Front Range with the acquisition of Arbor Plaza in Fort Collins.
The Kroenke Group’s Columbia, Mo.-based TKG Management Inc., using the entity GKT Arbor Plaza LLC, purchased the 69,683-square-foot neighborhood retail center for $15.5 million from Arbor Plaza LLC, registered to Albert Bagdadi of Littleton, according to public records.
The Kroenke Group in July 2017 acquired the majority of the 115,000-square-foot Fox Creek Village shopping center in Longmont for $24.8 million.
Arbor Plaza is at the southwest corner of West Harmony Road and South College Drive. The property is shadow-anchored by a Walmart Supercenter, which was not part of the sale.
The transaction includes three ground-leased pad sites and in-line shop space. Tenants include Panda Express, Fazoli’s, Firestone, Great Clips, Sola Salon Studios, College America, H&R Block, Golftec, Silver Mine Subs and Affordable Care. At the time of the sale, Arbor Plaza was 97 percent occupied. The shopping center was built in 1986 and renovated in 2013.
Kroenke owns Kroenke Sports & Entertainment, which includes the Denver Nuggets, Colorado Avalanche, Colorado Rapids, Colorado Mammoth and the Los Angeles Rams sports teams.
Drew Isaac, senior director of Marcus & Millichap’s National Retail Group and first vice president investments in the firm’s Denver office, listed the property. Ryan Bowlby, an NRG associate director and senior associate in the firm’s Denver office, secured the buyer.