Marcus & Millichap Brokers Sale of Healthcare-Anchored Ironwood Shops in Johnstown, Colorado
Marcus & Millichap (NYSE: MMI) has brokered the sale of Ironwood Shops, a 17,493-square-foot, healthcare-anchored neighborhood retail center located at 4848 Larimer Parkway in Johnstown, Colorado, the firm announced Aug. 4, 2026.
Ryan Bowlby, managing director investments, and Drew Isaac, investment specialist, both in Marcus & Millichap's Denver office, exclusively marketed the property on behalf of a local private investor and procured the buyer, also a private investor. Financial terms of the transaction were not released.
Property Details
Built in 2020, Ironwood Shops sits on 2.37 acres and comprises eight suites anchored by healthcare and service-oriented tenants. The center is positioned along one of Northern Colorado's fastest-growing retail corridors, where additional commercial and mixed-use development is planned.
The Larimer Parkway corridor has emerged as an active retail node in Johnstown, with nearby properties including recently constructed shop space and a range of service-oriented retailers, reflecting continued infill and expansion activity in the submarket.
Broker Commentary
"Neighborhood retail centers continue to be among the most sought-after investment opportunities in today's market," Bowlby said. "Northern Colorado's strong population growth, expanding retail corridor and continued mixed-use development make healthcare-anchored retail assets like Ironwood Shops especially attractive to investors."
Northern Colorado Retail Market Context
The transaction comes as the Northern Colorado retail market has tightened considerably. Direct retail vacancy in the region stood at 2.9% in the first half of 2025, down 30 basis points from year-end 2024 and 40 basis points year-over-year — its lowest post-pandemic level. Net absorption in the first half of 2025 reached approximately 155,000 square feet, a 93.7% increase year-over-year, driven by strong tenant demand and limited new vacancies.
About Marcus & Millichap
Marcus & Millichap is a commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, with offices throughout the United States and Canada. As of Dec. 31, 2025, the company had 1,808 investment sales and financing professionals in more than 80 offices. The firm closed 8,818 transactions in 2025 with a total sales volume of approximately $50.9 billion.