Arvada, CO – [February 16, 2021] – Blue West Capital has completed the sale of a single tenant net leased AutoWash property located at 5360 Wadsworth Bypass in Arvada, CO for $2,394,885.
Tom Ethington, of Blue West Capital, represented the purchaser in the transaction. The purchaser was C&L Investments Arvada, LLC, a Colorado-based private real estate family office. The seller was AutoWash Holdings, LLC, a Colorado-based private investor.
The property features a new 15 year triple net (NNN) lease with a corporate guaranty. AutoWash was founded in 2012 and operates 15 locations throughout Colorado offering top of the line car washing technology.
The 1,446 square foot AutoWash property is strategically positioned off Wadsworth Bypass with over 76,000 VPD and access to nearby retail, schools, and parks. The surrounding area is affluent with over 129,000+ people within a three-mile radius and average annual household incomes of $86,000+. The immediate area is rapidly expanding with annual projected population growth forecasted to increase another 4% over the next five years.
“There is a lack of quality single-tenant net lease investments currently available in the market. After meeting with the Buyer we put a process in place to identify certain opportunities and go under contract on the 15 year NNN lease Autowash prior to construction completion to win the deal,” said Tom Ethington, Managing Partner of Investment Sales.