Source: Colorado Real Estate Journal, October 21-November 3, 2020. Salh Co. leased 2,264 sf, units 140 and 150 at the Zephyr Square Shopping Center at 530 Knox Court in Denver from landlord Robert Kearney. Paul Roberts of Fuller Real Estate represented the landlord in this transaction. The tenant was unrepresented. According to Roberts, the units were listed six months ago. Unit 150 was used as a hair salon, and unit 140 was used as a laundromat. Roberts said each of the properties garnered significant interest from tenants looking to keep those respective uses, but the landlord was hoping to lease the two spaces together. When Salh Co was interested in occupying both, bringing in a liquor store, it was a perfect fit. As of September, the tenant is under a 10-year, triple-net lease at the property. It will pay $12.17 per sf in monthly rent. Roberts said the tenant will do renovations on the property to join the two units, making them one large space. “The tenant has three months of free rent to get its liquor license, and then starting Dec. 1, the tenant will pay triple-net expenses for three months while it starts renovations. After that, it will pay full rent for the remainder of its lease,” Roberts said.
Successful Lease at Zephyr Center Retail Center
