DENVER, CO – [May 1, 2019] – Blue West Capital has completed the sale of a single tenant net leased KinderCare property located at 4703 McMurry Avenue in Fort Collins, CO for $3,159,050. Robert Edwards and Zach Wright represented both the seller and the purchaser in the transaction. The seller was a Colorado-based high net worth family and the purchaser was a California-based private investor.
Blue West Capital also assisted the seller in negotiating a 10-year early lease extension prior to the sale. KinderCare has a proven operating history of over fifteen years at this location. The corporate lease is absolute triple net and features no landlord responsibilities. KinderCare is the largest operator of nationally accredited early learning centers in the country and operates over 1,600 locations. KinderCare is a privately held company that is headquartered in Portland, OR.
The 10,095 square foot building is located just south of a signalized intersection along East Harmony Road which is the region’s primary east-west thoroughfare. The surrounding properties include numerous large office buildings containing tenants such as Hewlet Packard, Banner Fort Collins Medical Center, Broadcom, Intel, Harmony Corporate Center, UC Health, and many others. Colorado State University, which has an enrollment of approximately 35,000 students, is located less than five miles from the property.
“Single tenant properties with proven operating histories, recent lease extensions, and long-term leases are amongst the most highly sought after investments in the single tenant world. We successfully were able to negotiate an early 10-year lease extension with KinderCare due to the strength of the location and surrounding area,” said Robert Edwards, Managing Partner. “We received significant investor interest, including several offers above the asking price. The high investor demand is partially due to the continued supply and demand imbalance of available quality Colorado single tenant properties,” added Zach Wright, Director of Net Lease Investment Sales.