Denver, CO – [November 6, 2020] – Blue West Capital has completed the sale of a single tenant brand new construction Bellco Credit Union located at 18241 Green Valley Ranch Boulevard in Denver, CO for $2,720,000.
The brand-new construction 2,660 square foot Bellco Credit Union property is located just west of the heavily trafficked signalized intersection of Green Valley Ranch Boulevard and Tower Road. The property is situated within the Gateway Crossing development, which features a Natural Grocers, Raising Canes, Murphy Express, Starbucks as well as many other national retailers coming soon. There are approximately 70,000 people living within a three-mile radius of the property with substantial forecasted population growth over the next few years.
The Bellco Credit Union property features a long-term net lease with rare 3% annual rental increases. Bellco Credit Union was founded in 1936 and presently has over 340,000 members and over $5 billion in assets. Bellco is one of the largest credit unions in Colorado.
“New construction single tenant properties leased to high credit tenants, such as Bellco Credit Union, with annual rental increases are difficult to find. We continue to feel the effects of supply and demand constraints, particularly with respect to net lease properties located in Colorado. We were able to utilize our broad network of developers to assist the purchaser in securing this coveted investment property,” said Zach Wright, Director of Net Lease Investment Sales.
Zach Wright, of Blue West Capital, represented the seller and purchaser in the transaction. The seller was EVC-WDG Tower II, LLC, a partnership of two local developers. The purchaser was Valley Real Assets, LLC, a Colorado-based private investor.