Matrix Group buys Midtown Commons for $11.6M

FORT COLLINS – Denver-based Matrix Group Inc. purchased the Midtown Commons shopping center at 2721 S. College Ave. in Fort Collins from Everitt Industries Inc. for $11.6 million earlier this month, according to public records.

The 98,764-square-foot shopping center sits on 8.4 acres.

Natasha Zomcik, an executive administrative assistant for Matrix, said the shopping center is 96.3 percent leased with the three largest tenants being Jo-Ann, a fabrics and crafts store, Dollar Tree and Arc Thrift Store. She said those three stores recently have been renovated and that Matrix likely will make some capital improvements to the center over the next couple of years.

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John C. Webb and Leon Vahn, founders of the Matrix Group, used two of their entities, JCRS II Colfax LLC and Midtown Industrial Center LLC, to purchase the shopping center, according to public records.

Officials at Everitt Industries were not available for comment.