Denver-based firm pays $7.1M for Koko Plaza in downtown Louisville

LOUISVILLE — Star Mesa Properties LLC in Denver has acquired the Koko Plaza buildings in downtown Louisville for $7.1 million, according to public records.

Star Mesa Properties is a private real estate fund founded in 2012 and is led by managing directors Bob Cardwell and Kellie Slater.  It used the entity SMP Koko Plaza LLC to make the purchase from Denver-based EverWest Real Estate Investors LLC, which has six regional offices in the United States.

The approximately 34,000-square-foot Koko Plaza is made up of two connected buildings, one three-stories tall at 901 Front St. and the other a two-story building at 917 Front St. They were built in the early 2000s by then owner and developer Arlin Lehman of Louisville. The two buildings were renovated in 2014.

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Koko Plaza is 98 percent leased to 19 tenants with spaces ranging from 130 square feet to 4,659 square feet per tenant, according to Dallas-based Holliday Fenoglio Fowler LP, which from its office in Denver marketed the property on behalf of the seller and also procured the buyer.