CENTENNIAL, CO – [July 8, 2022] – Blue West Capital has completed the sale of a single tenant net leased Caliber Collision property located at 7360 South Fraser Street, Centennial, CO for $3,830,000. The property sold for the 2nd lowest cap rate ever recorded for a Caliber Collision property in Colorado, according to CoStar. This sale is also the 4th lowest cap rate for a single tenant industrial property in Colorado year-to-date per CoStar.
Brandon Wright and Zach Wright of Blue West Capital exclusively represented the seller in the transaction. The seller was a Denver-based private investor based and the purchaser was a 1031 exchange investor based in Colorado.
The Caliber Collision is strategically located on South Fraser Street and just south of Arapahoe Road. The average annual household incomes exceed $135,000 within three miles. The property is situated on a 1.17-acre parcel and the building is 15,630 square feet.
Caliber Collision has a long operating history at this property and has approximately 3 years remaining on their lease. The corporate lease features minimal landlord responsibilities and rental increases in the renewal option periods. Caliber Collision is the nation’s largest collision repair company with over 1,400 locations across 39 states.
“Net lease investors continue to gravitate towards automotive service properties. We have sold two of the three lowest cap rates recorded for Caliber Collision properties in Colorado’s history,” said Brandon Wright.
“The supply of single tenant properties within the Denver MSA is limited and these properties are in high demand amongst investors. As a result, single tenant properties in the Denver MSA are continuing to sell for significant premiums when compared to the rest of the country,” added Zach Wright.