Colorado Springs shops sell for $12.75M

Major retailers occupy site

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

Wilson-Murrell Investments recently paid $12.75 million for a shopping center in Colorado Springs, Colo., CoStar Group reported Monday. The property, Albertsons Center at Nor'wood, was built in 2004 on 12 acres at 6905-7095 Austin Bluffs Parkway. Lubert-Adler Management West Inc. sold the 73,082-square-foot shopping center at a price of more than $174 per square foot. At the time of sale, the asset was approximately 96 percent occupied by tenants that included Albertsons, Subway and Great Clips. ...