Hillcrest Plaza in Northglenn. Photo courtesy United Properties.

Denver-based Unique Properties, Inc. has completed the sale of Hillcrest Plaza, located at 1400-1490 West 104^th Avenue in Northglenn, on behalf of Savageau R Limited Partnership. McCain Properties II LLC was the buyer. Marc Lippitt, Scott Shwayder, and Justin Herman of Unique Properties provided brokerage services in this transaction.

The property closed on September 15^th with a purchase price of $5,000,000. Unique Properties’ property management arm, Unique Management Solutions, LLC will be providing management services for the Hill Crest  going forward, and Unique Properties will provide leasing services for the new owner.

The 34,269 square foot plaza was built in 1972, and is located off of West 104^th Avenue and Pecos. Current tenants represent a mix ranging from national credit tenants to local retailers.

Unique Properties explained in a written statement, “Hillcrest Plaza had many tenants paying under market rental prices, leaving an upside for the new owner to capitalize. At the time of sale, the CAP rate was 8.11% and was 92% occupied. The previous owners owned this property for over 30 years.”