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Another Successful Refinance - Canon Plaza
DePaul Real Estate Advisors is proud to announce the successful refinancing of Canon Plaza, a 79,393 square foot, multi-tenant retail shopping center in Canon City, Colorado. This single story, shopping center is 95% occupied with 9 tenants, including: City Market (Kroger), Dollar Tree, 16th Street Café, H&R Block, Cost Cutters, Anytime Fitness, Aaron’s, Pizza Hut and Radio Shack. The inline space with the majority of the tenants is the west building and City Market inhabits the east building. The property was built in 1979 with City Market expanding its current location in 1993. Canon Plaza is the only shopping center in Canon City containing a grocery store anchor.
The $3,500,000, non-recourse loan refinanced debt on the property. Paul DeCrescentis, Jarod Pate and Theresa Torres represented the borrowers.
The property has prominent visibility from U.S. Highway 50 with a traffic count of 18,671 vehicles per day. This makes Canon Plaza a destination of retail customers. Canon City, county seat of Fremont County, is located at the mouth of the Royal Gorge in the foothills of the Rockies, 100 miles from Denver, 45 miles southwest of Colorado Springs, and 35 miles west of Pueblo. The largest employers in the area are the Federal and State correctional systems and the Centura Health-St. Thomas More Hospital facilities, which has just announced a $14 million expansion.
For additional information or to inquire on how DePaul Real Estate Advisors can help you with placing debt, please contact Paul DeCrescentis or Jarod Pate at 303-333-9799.
For leasing inquires, please contact Matthew Watson or Lance Eberhard at 303-333-9799.