Real Estate & Construction  July 19, 2022

Greeley’s CenterPlace shopping center sold for $37.55M

GREELEY – A 152,000-square-foot shopping center in Greeley has been sold for $37.55 million.

CenterPlace of Greeley, a commercial center at 47th Street and U.S. Highway 34 that is anchored by a Safeway grocery store and includes a Bank of America branch, a Tokyo Joe’s restaurant, a dental office and retailers such as Ross Dress for Less, Famous Footwear, Cold Stone Creamery, was purchased by the Slate Grocery real estate investment trust, according to Ryan Bowlby, senior director of Institutional Property Advisors, a division of Marcus & Millichap (NYSE: MMI). IPA represented the seller, InvenTrust Properties, and procured the buyer.

“CenterPlace of Greeley dominates its region and features a tenant mix of predominantly national tenants that occupy 94% of the total gross leasable area,” Bowlby said in a media release. “We had a robust market response from investors nationwide that resulted in a highly competitive best and final bidding round.” Slate Grocery REIT, he said, “quickly conducted due diligence and closed, despite the recent national economic turbulence.”

This article was first published by BizWest, an independent news organization, and is published under a license agreement. © 2022 BizWest Media LLC.

GREELEY – A 152,000-square-foot shopping center in Greeley has been sold for $37.55 million.

CenterPlace of Greeley, a commercial center at 47th Street and U.S. Highway 34 that is anchored by a Safeway grocery store and includes a Bank of America branch, a Tokyo Joe’s restaurant, a dental office and retailers such as Ross Dress for Less, Famous Footwear, Cold Stone Creamery, was purchased by the Slate Grocery real estate investment trust, according to Ryan Bowlby, senior director of Institutional Property Advisors, a division of Marcus & Millichap (NYSE: MMI). IPA represented the seller, InvenTrust Properties, and procured the buyer.

“CenterPlace of…

Dallas Heltzell

Staff writer

Dallas Heltzell
Dallas has been with BizWest since 2012 and in Colorado since 1979, having worked at the Longmont Times-Call, Colorado Springs Gazette, Denver Post and Public News Service. A Missouri native and Mizzou School of Journalism grad, Dallas started as a sports writer and outdoor columnist at the St. Charles (Mo.) Banner-News, then went to the St. Louis Post-Dispatch before fleeing the heat and humidity for the Rockies. He's a proud St. Louis Cardinals and Missouri Tigers fan and Longmonter who loves the outdoors, good restaurants, our Northern Colorado mountain communities, his big backyard and living in a region that's the country's most exciting place to be a business reporter.

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