Economy & Economic Development  July 21, 2015

Cincinnati firm pays $15.5M for Broadlands Marketplace in Broomfield

BROOMFIELD — The Ohio real estate investment firm that recently bought the Meadows on the Parkway shopping center in Boulder announced on Tuesday that it has also purchased the Broadlands Marketplace in Broomfield.

An affiliate of Phillips Edison and Co. in Cincinnati paid $15.5 million to buy the Safeway-anchored center from affiliates of Chicago-based Walton Street Capital and Greenwood Village-based Alberta Development Partners.

BizWest had reported last week that Phillips Edison bought the Meadows on the Parkway shopping center in Boulder from Walton and Alberta for $48 million.

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The Broomfield center, at the southwest corner of 144th Avenue and Lowell Boulevard, is roughly half the size of the Boulder center at 104,000 square feet. Great Clips, Edward Jones and Safeway are also national tenants in the Broadlands Marketplace.

Walton and Alberta — which are redeveloping the Foothills Mall in Fort Collins and recently purchased the University Square shopping center in Greeley — bought Meadows on the Parkway and the Broadlands Marketplace from the real estate arm of Hawaii-based Alexander and Baldwin Inc. in December 2013 for $33 million and $11 million, respectively.

Phillips Edison has a significant presence in the region, including the Thompson Valley Towne Center in Loveland and the New Windsor Marketplace in Windsor, as well as five others in the Denver and Colorado Springs areas.

BROOMFIELD — The Ohio real estate investment firm that recently bought the Meadows on the Parkway shopping center in Boulder announced on Tuesday that it has also purchased the Broadlands Marketplace in Broomfield.

An affiliate of Phillips Edison and Co. in Cincinnati paid $15.5 million to buy the Safeway-anchored center from affiliates of Chicago-based Walton Street Capital and Greenwood Village-based Alberta Development Partners.

BizWest had reported last week that Phillips Edison bought the Meadows on the Parkway shopping center in Boulder from Walton and Alberta for $48 million.

The Broomfield center, at the southwest corner of…

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