DENVER, CO – [December 27, 2019] – Blue West Capital has completed the sale of a single tenant net leased Arby’s ground lease property located at 5995 Dexter St, Commerce City, CO for $1,541,246. Robert Edwards and Brandon Gayeski represented the seller in the transaction; a Denver-based partnership. The purchaser was an all-cash California-based investor in a 1031 exchange.
Arby’s has a proven operating history of over twenty years at this location. Arby’s has a long-term ground lease with zero landlord responsibilities. The tenant recently exercised a renewal option. The location is guaranteed by RB American Group LLC which operates over 369 Arby’s restaurants. They are a wholly owned subsidiary of Flynn Restaurant Group the largest restaurant franchisee in the United States.
The property is strategically positioned just west of the heavily trafficked signalized intersection of Vasquez Boulevard and 60th Avenue (61,000 VPD). The surrounding properties include Walmart, King Soopers, Walgreens, Chipotle, McDonald’s, Wells Fargo, Wendy’s, Taco Bell and many others. Dick’s Sporting Goods Park, home to the Colorado Rapids and numerous concerts, is located less than three miles from the property.
“Investors continue to be attracted to single tenant properties with proven operating histories. The low ground rent coupled with the tenant’s recently exercised renewal option, contributed to the significant investor interest in the deal,” said Brandon Gayeski, Associate.
“This is the second single tenant net leased property Blue West Capital has sold in Commerce City in December. The net leased investment market remains robust. We are working with numerous other all-cash local and out-of-state investors looking to buy quality Colorado commercial real estate,” said Robert Edwards, Managing Partner.