0August 19, 2021
Kentro Group has unloaded a two-unit retail building along Broadway south of downtown, three years after buying it.
The Denver-based real estate firm last month sold the 141-145 N. Broadway building — home to a liquor store and restaurant Postino — for $4.78 million, according to public records.
The building is 4,780 square feet, which makes the deal worth $1,000 a square foot. That’s a record for a multi-tenant retail building along the Front Range, according to brokers Justin Brockman and Chris Student of the Brockman Group, who represented the seller.
The building sits on a 0.31-acre lot, records show.
The buyer was Waihee Sweetwater Farm LLC, which lists a P.O. box in New York as its office address.
Kentro purchased the building in September 2018 for $3.41 million from the owners of gay bar Compound Basix, which had previously operated in the unit now occupied by Postino. Kentro secured the new tenant; Postino opened in October 2019.
Kentro was on the other side of the deal in a recent sale along Colorado Boulevard. The firm paid $13.1 million last month for the Square One retail center at the corner of Colorado and Mississippi Avenue in Glendale.
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About the Author: Thomas Gounley
Thomas covers commercial real estate, development and law. He is a graduate of the University of New Hampshire and previously worked as a business reporter at the Springfield News-Leader. Email him at thomas@BusinessDen.com.
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