Battlement Mesa, CO – [October 1, 2021] – Blue West Capital has completed the sale of a single tenant net leased Kum & Go property located at 10 Stone Quarry Road in Battlement Mesa, CO for $3,475,000. The property sold for 100% of the asking price.
Kum & Go has operated at this location since 2006 and signed a long-term sale leaseback in 2017. The property features a long-term absolute triple net lease with no landlord responsibilities. Kum & Go is the 18th largest convenience store operator in the U.S. with over 400 locations.
The Kum & Go property is in Battlement Mesa just south of Interstate 70. The surrounding area is affluent with average annual household incomes of approximately $100,000. The property benefits from minimal competition in the surrounding area and its proximity to the Grand Valley Recreation Center (53K square foot facility), Battlement Mesa Medical Center, Grand Valley Middle School, and the Battlement Mesa Golf Club.
Zach Wright, of Blue West Capital, represented the seller in the transaction. The seller was a Midwest-based real estate investment and development firm. The purchaser was a Colorado-based 1031 exchange investor.
“High quality single tenant properties in Colorado continue to be in short supply which has led to favorable market conditions for sellers. The Battlement Mesa property sold for the full asking price and is the 7th lowest cap rate ever for a Kum & Go property, according to CoStar,” said Zach Wright, Director & Partner.