B
rinkman Real Estate, founded by Steamboat Springs resident Paul Brinkman, has sold the 67,000‑sq‑ft Sundance at Fish Creek to a private real‑estate investment trust after six years of ownership. The complex sits at 225 Anglers Drive, at the corner of U.S. Highway 40 and Anglers, making it highly visible to traffic between the Steamboat Ski Resort and downtown.
Brinkman said the closing occurred last Friday. “It’s one of the largest neighborhood centers in town and serves many small local businesses,” he explained. “When we bought it, our goal was to support existing tenants and attract new ones that fit the center’s character.”
When the property was purchased in 2019, occupancy was just over 65 %. Under Brinkman Real Estate’s stewardship, it rose to 95 %. Sundance was built in phases from 1981‑82, and Brinkman noted that a similar center would be unlikely to be constructed again because of the high costs involved.
“We focused on caring for current tenants and finding new ones that were a good fit,” Brinkman said. “The center has historically housed many nonprofits, and we’ve helped them grow. We’ve made improvements and attracted more local businesses.”
The timing of the sale aligned with real‑estate cycles, and the decision to market the property came before the recent transaction. Cushman & Wakefield, which facilitated the sale, said the transaction reflects continued demand for retail assets in supply‑constrained, high‑barrier‑entry markets. “The property drew substantial interest from a diverse buyer pool, giving the seller the chance to choose a purchaser passionate about the Steamboat community and committed to improving the asset,” added Joe Hendrickson.
Hendrickson, Aaron Johnson, and Mitch Veremeychik represented Brinkman Real Estate. The firm bought Sundance for $11.75 million in 2019. Prior owners Jim and Susan Larson, through Alpen Glow Ventures, purchased the center in 2002 for $5.85 million. The selling price was not disclosed, and Routt County Assessor records have not yet been updated.
Sundance at Fish Creek comprises seven commercial buildings on seven acres and hosts more than 40 tenants, including Starbucks, Hypnotic Chicken, Sherwin Williams, Sundance Health Zone, Fiesta Jalisco, and Egg & I. The property’s appeal to investors stems from its prime location, ample parking, and a walking path that runs along the entire side of the site.
Brinkman emphasized the importance of a buyer who would treat tenants with the same care he did. “We found the right buyer,” he said. “They’re a larger institutional firm with a strong reputation for service and tenant care.”
John F. Russell, business reporter for the Steamboat Pilot & Today, can be reached at 970‑871‑4209, [email protected], or @Framp1966 on Twitter.
