Colorado Springs, CO – [September 1, 2021] – Blue West Capital has completed the sale of a single tenant Caliber Collision located at 720 Garden of the Gods Road in Colorado Springs, CO for $5,654,519. Blue West Capital was able to procure an all-cash 1031 exchange buyer based in California. Tom Ethington, of Blue West Capital, represented the Colorado-based seller in the transaction.
The 25,000 SF Caliber Collision is corporately guaranteed and recently exercised a long-term lease extension, creating maximum value for the Seller. Following a merger with ABRA, Caliber Collision operates more than 1,200 locations in 40 states and is a leading repair chain that has generated interest among investors. Blue West Capital was able to generate multiple offers within the initial stages of marketing and procured a closing cap rate representing an all-time low in Colorado Springs, CO for a single-tenant collision repair center.
“The pandemic has shifted net lease investor preferences towards ecommerce & pandemic resistant tenants; collision centers are a great example of this category. Colorado Springs, CO population grew by 9.5%, more than double the national growth rate between 2010 and 2016. We are seeing more and more investor interest in the Colorado Springs market.” Said Tom Ethington.