Snooze-anchored property sold for $7M

Burl Rolett October 25, 2016 1

The retail and office property at 700 Colorado Ave. is anchored by brunch hotspot Snooze. (Burl Rolett)

The retail and office property at 700 Colorado Blvd. is anchored by brunch hotspot Snooze. (Burl Rolett)

One of Denver’s busiest brunch spots has a new landlord.

Kentro Group bought a retail and office building at Seventh Avenue and Colorado Boulevard anchored by popular breakfast spot Snooze last week for $7.1 million. The retail strip’s tenant list includes Snooze, Anthony’s Pizza & Pasta and a UPS Store.

Kentro’s acquisition includes a 26,000-square-foot building as well as a row of parking lots behind the building and facing Albion Street. The entire purchase included about an acre of land, according to Denver County real estate records.

The seller was an LLC that shares an address with Denver-based Leith Ventures.  That firm bought the assemblage in 1997 for $3.75 million, city records show.

Kentro Group invests in mainly retail real estate around Denver. Their current holdings include a vacant car wash near Cheesman Park on Colfax; a former bank branch at 5901 E. Colfax Avenue; and a retail complex straddling both sides of York Street at Colfax Avenue.

In recent years, the company has renovated a Tennyson Street building, then moved in Biju’s Little Curry Shop, a dental office and Atomic Cowboy before selling the property for $4.4 million. Kentro also previously owned another Colorado Boulevard building a few blocks up at 13th Avenue, before selling that property to franchisees of AFC Urgent Care.

Kentro principals George and Jimmy Balafas did not return phone calls seeking comment on the Seventh and Colorado acquisition.

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One Comment »

  1. John Sheridan October 25, 2016 at 1:34 pm - Reply

    Kentro owns the land lease under Trader Joe’s, that’s why they bought this contigeous property.

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