WESTMINSTER, CO – [February 6, 2020] – Blue West Capital has completed the sale of a brand-new construction single tenant net leased Dutch Bros property located at 270 West 136th Avenue in Westminster, CO for $2,220,000.
The Dutch Bros property is strategically positioned as an outparcel to a Walmart Supercenter. The property is just west of the Interstate 25 and 136th Avenue interchange. The surrounding area is affluent with average annual household incomes in excess of $121,000 within a one-mile radius. The immediate area has experienced robust recent development including the opening of Amazon’s 855,000 square foot fulfillment center, Simon’s 330,000 square foot Denver Premium Outlets, and the 422,000 square foot Parkhouse Apartment complex.
The property sold shortly after Dutch Bros celebrated their January 31, 2020 grand opening. The Dutch Bros is on a fifteen-year corporate lease that features fixed rental increases. Dutch Bros is the largest privately held drive-through coffee chain in the United States. Dutch Bros operates 380 locations in seven states.
“Brand new construction properties with long-term corporate leases are the most sought-after investment among 1031 exchange investors. There continues to be a lack of supply in Colorado of available single tenant properties with long-term leases. Our vast network of developers, investors, and brokers has allowed us to successfully facilitate numerous recent single tenant transactions,” said Zach Wright, Director of Net Lease Investment Sales.
Zach Wright, of Blue West Capital, assisted the purchaser and seller in the transaction. The seller was Addison Street Investments, LLC, a Southwest-based developer. The purchaser was Erlinda Properties, LLC, a Colorado-based 1031 exchange investor.