The Heritage Hills shopping center in Lone Tree has been sold by Westwood Financial Corp. to Carlisle Properties for $11.4 million, Westwood announced today.
Westwood said it sold the 34,749-square-foot property as part of its efforts to strengthen its strategic investment in the new southeastern U.S. markets.
“We see an opportunity to expand our scope in the Southeast utilizing the capital gained in this transaction,” said Joe Dykstra, executive vice president of Westwood Financial Corp. “While our immediate plans will be to own the anchor space, Westwood Financial will also be re-deploying funds gained from this particular transaction into the Southeast market.”
The property is at 9227 Lincoln Ave., and has been in Westwood’s portfolio for 11 years.
The 18-unit Heritage Hills Shopping center was built in 1999 and is currently 96 percent leased.
Tenants include Safeway, Perfect Teeth, Front Range Family Eye Care, Great Clips, Papa Johns, Subway and Heritage Hills Wine & Spirits.
Howard Pankratz: 303-954-1939 or hpankratz@denverpost.com.
