Westminster investor buys Chappelow Square in Evans

EVANS – Westminster-based J&H Management LLC, an entity led by investor Hyung Lee, paid $1.84 million recently to purchase the Chappelow Square shopping center at 3230 23rd Ave.

J&H bought the eight-unit, 17,500-square-foot retail building from Greenwood Village-based Western Skies Associates LLC. Jerry Chilson and Randy Marshall of Sperry Van Ness/The Group Commercial LLC represented the seller. James B. Oh of Brokers Guild Cherry Creek Ltd. Represented the buyer.

Built in 1999, Chappelow Square is home to a Kwal paint store, Little Caesar’s Pizza, an Armed Forces recruiting center, a Last Load laundromat, Super Cellular and a Tacos Y Salsas restaurant.

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Chilson said the center has about 16 percent vacancy, with a pair of units empty.

Chilson said the buyers had no redevelopment plans at this time. J&H, he said, purchased the property to hold for the long-term, with plans to find new tenants for the vacant spaces.