GOLDEN, CO – [July 12, 2022] – Blue West Capital has completed the sale of a three-tenant new construction retail center located at 17101 South Golden Road in Golden, CO for $4,337,000. The property is 100% leased to Sherwin-Williams, Bank of America, and Aladdin Mediterranean Grill.
Zach Wright, of Blue West Capital, represented the purchaser in the off-market transaction. The purchaser was a private Colorado-based family, and the seller was a Denver-based developer.
The 6,178 square foot retail center is strategically positioned as an outparcel to King Soopers. The property was built in 2019. Retailers in the immediate corridor include Walgreens, Chase Bank, Starbucks, Advance Auto Parts, and McDonalds. The surrounding area is affluent with average annual household incomes of approximately $120,000 within five miles.
The property features long-term net leases to Sherwin-Williams, Bank of America, and Aladdin Mediterranean Grill. All the leases include rental increases. Over 77% of the center is leased to investment grade rated tenants. Sherwin-Williams has a Standard & Poor’s rating of BBB and Bank of America has a Standard & Poor’s rating of A-.
“Net lease properties in affluent submarkets of the Denver MSA with strong real estate fundamentals, such as grocery-anchored outparcels, are difficult to find and in short supply. We sourced this coveted off-market opportunity for the purchaser and assisted them with obtaining extremely attractive financing terms,” said Zach Wright, Director & Partner.