GRAND JUNCTION, CO – [October 4, 2021] – Blue West Capital has completed the sale of a single tenant net leased Tractor Supply Company property located at 2499 Hwy 6 & 50 in Grand Junction, CO for $5,500,000. The property generated numerous offers and ultimately sold for $205,000 above list price.
Brandon Gayeski and Robert Edwards, of Blue West Capital, represented both the seller and purchaser in the transaction. The purchaser was a Texas-based private real estate company. The Seller was a California-based family office.
Tractor Supply Company has operated at the property since 2012 and recently exercised an early ten-year lease extension. Blue West Capital successfully assisted the Seller in negotiating the early lease extension with the tenant. The corporate net lease features minimal landlord responsibilities and rental increases. Tractor Supply Company is a publicly traded company (NASDAQ: TSCO) with a market capitalization in excess of $23 billion. Tractor Supply Company is an investment grade rated tenant with a Standard & Poor’s rating of BBB. The company operates approximately 2,000 retail stores.
The 36,484 square foot Tractor Supply Company is located at a signalized intersection along Highway 6 and 50, across the street from the Mesa Mall. The largest mall in Western Colorado. The property is well-positioned within a regional retail destination that also includes Walmart Supercenter, Target, Home Depot, Lowe’s, Sam’s Club, Sprouts, Natural Grocers, and numerous other national retailers. There are approximately 80,000 people living within a five-mile radius of the Tractor Supply.
“The market for single tenant net leased properties in Colorado remains extremely competitive. We continue to experience a supply-demand imbalance resulting in favorable pricing for sellers. We received eighteen offers within the first few days of marketing,” said Brandon Gayeski, Associate Director. “This is the sixth net lease retail investment property Blue West Capital has sold in Grand Junction within the past two years. Grand Junction is seeing an increase of real estate investor activity due to its high population growth, and new businesses in the tech and outdoor recreation industries moving to the area,” added Robert Edwards, Managing Partner.