DENVER, CO – [July 26, 2019] – Blue West Capital has completed the sale of a dark Buffalo Wild Wings single tenant property located at 404 Marshall Road in Superior, CO for $1,450,000 which represents a 14.72% cap rate. Buffalo Wild Wings has ceased operating at this location but is still paying rent and fulfilling the obligations of their lease. The property is located within prestigious Boulder County. Blue West Capital has sold more single tenant properties in Boulder County than any other company since the start of 2018.
Tom Ethington and Brandon Gayeski of Blue West Capital represented a repeat purchaser in the transaction; a high-net-worth Denver-based investor. The seller was a private family office located in the Midwest.
Buffalo Wild Wings began operating at the 5,507 square foot building in 2004. The store went ‘dark’ in 2018. The property is strategically positioned at the signalized entrance to Superior Marketplace, a 620,000 square foot development anchored by Costco, SuperTarget, and Whole Foods. The surrounding area is affluent with average annual household incomes of $142,285 within three miles.
“Savvy real estate investors seeking value-add deals are finding opportunities with well-located dark single tenant properties. These investments generate income while the investor creates value through retenanting,” said Brandon Gayeski, Associate. “The property is well-positioned in an expanding corridor of the Denver MSA. The purchaser was excited to add this value-add real estate deal to their portfolio,” added Tom Ethington, Managing Partner.