Current Yield with Participation Funds (CYwP Funds) announced today that CYwP Fund III has invested in The Shops at Greenwood Village, a 209,953 square foot neighborhood shopping center located in Greenwood Village, CO. The shopping center is highly visible and located on Arapahoe Road, one of the premier retail thoroughfares within the southern Denver market with 65,000 vehicles passing daily. The property consists of five multi-tenant buildings containing 69 tenants and is anchored by Natural Grocer’s Vitamin Cottage and the United States Postal Service.
Greenwood Village thrives because of its strong location that is heavily trafficked and supported by an affluent and densely populated area within the southern Denver region. In Greenwood Village, demand for retail goods and services grew 2.1% between the 4th quarters of 2014 and 2015 and is continuing to grow due to high projected population growth and demand within the 1-mile site radius (2016 data not yet released). Furthermore, low interest rates and robust local residential market support the increase in spending. The Center’s strong location and real estate fundamentals give us confidence in the security of this investment, while current vacancy and opportunities for tenant repositioning provide upside potential.