Property now occupied by Cabela’s sold to developer from Littleton
A land development company headquartered in Littleton has acquired more than 75,000 square feet of Mesa Mall retail space currently occupied by Cabela’s.
The terms of the deal, announced Monday, were not disclosed.
The outdoor recreation retailer sits on a 6.76-acre lot at Mesa Mall that was developed in 1983.
Macerich Mesa Mall Holdings sold the building to Nursery Acres to complete a tax-deferred transaction known as a Section 1031 Exchange, said Larry Thiel, agent for Nursery Acres.
In a typical transaction, the property owner is taxed on any gain realized from the sale of commercial property. However, through a Section 1031 Exchange, the tax on the gain is deferred until a future date.
The Cabela’s property was on the market for less than 30 days before Nursery Acres made the purchase, Thiel said.
Cabela’s right to remain on the property is subject to a 17-year lease, said Lauren Truitt, Cabela’s marketing manager.
“As far as we’re concerned, from what I’ve been told ... we’re still going to stay located here,” Truitt said.
“(Nursery Acres) just plans on leasing it out to Cabela’s for the next several years,” Thiel said.
Simon Properties took ownership of Mesa Mall and several other mall properties in a massive property swap with Macerich in 2011. The parcel occupied by Cabela’s was apparently not part of the swap.
Neither Macerich Mesa Mall spokeswoman Kimberly Hastings nor Simon Properties returned a call seeking comment Monday.
Paul Peterson, general manager for Mesa Mall, declined to comment, citing Simon Properties corporate policy.
“The Mesa Mall is the largest shopping hub between Denver and Salt Lake City,” Thiel said. “This premier location and the street frontage on (U.S. 6&50) in Grand Junction made this a very desirable asset.”