Sample Retail Properties
Triumph Valle Vista
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Size:8.4 acre development including 24,000 square feet of shop space and 3 pads.
Cost: $9,400,000 (2003)
Start: June, 2004 (original land purchase agreement)
Finish: January, 2007
Triumph completed the development of this upscale neighborhood shopping center in Westminster, Colorado in January, 2007. At the time of ground-breaking in March 2006, two of the three pad sites were pre-sold, bringing the cost basis in the land down to $150,000, and 65% of the shop space was pre-leased. As a high-end center catering to a wealthy demographic, Valle Vista’s design used premium architecture and materials, enhanced by incredible views of the Boulder Valley and the mountains to the west. Triumph partnered with principals of Catamount Constructors to complete the project, which was delivered on-budget with a finished value significantly higher than its developed cost.
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3020 East Platte Avenue
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Size: 7,130 square feet on1.37 acres
Acquisition Price and renovation cost:
$825,000 (2003)
Sale Price: $950,000 (2005)
Triumph Real Estate acquired 3020 East Platte Avenue in Colorado Springs, a 7,130 square foot retail building situated on 1.37 acres for $800,000, renovated and leased upon completion. The user purchased the property 18 months later for a price of $950,000, representing a 60% cash on cash return.