NORTHGLENN, CO – [March 31, 2022] – Blue West Capital has completed the sale of a single tenant net leased O’Reilly Auto Parts property located at 400 E 120th Avenue in Northglenn, CO for $1,804,000. This is 2nd O’Reilly Auto Parts in the Denver MSA sold by Blue West Capital within the past two weeks.
Brandon Gayeski, of Blue West Capital, represented both the seller and purchaser in the transaction. The seller was a California-based partnership and the purchaser was a Colorado-based investor.
The O’Reilly Auto Parts is strategically positioned as an outparcel to a Safeway-anchored shopping center. The property is located along 120th Avenue, the primary east-west thoroughfare in the trade area with traffic counts in excess of 53,000 vehicles per day. The surrounding area is densely populated with over 133,000 people living within three miles.
O’Reilly Auto Parts has operated at this location since 1995 and the property features an absolute triple net lease. There are no landlord responsibilities and fixed rental increases every five years. O’Reilly Auto Parts is a publicly traded company (NYSE: ORLY) with a market capitalization in excess of $46 billion. O’Reilly Auto Parts has an investment grade credit rating (S&P: BBB).
“Single tenant properties with older leases and low rents are extremely rare and highly sought after amongst net lease investors. We continue to feel the effects of supply and demand constraints, particularly with respect to net lease properties located in Colorado. We were fortunate to arrange the sale of this off-market property,” stated Brandon Gayeski, Director.