Blue West Capital Arranges Sale of Two Tenant Retail Building Located at the Promenade at Castle Rock

DENVER, CO – [June 13, 2019] – Blue West Capital has completed the sale of a two-tenant retail property located at 5700 New Abbey Lane in Castle Rock, CO for $4,725,000. This sale received multiple qualified offers and went contract to close in 38 days at 98.40% of asking value.

Tom Ethington represented the seller in this transaction; assisting the repeat developer with valuation and buyer selection. The purchaser was a 1031 exchange investor based in Colorado.

The 8,152 SF building is newly constructed and is 100% occupied by Fuzzy’s Taco Shop and American Family Care Urgent Care which both have 10-year leases in place.

The subject property is strategically located in Promenade at Castle Rock, the retail epicenter of the south Denver Trade Area. The trade area offers strong demographic densities with over 63,400 residents within a 5-mile radius of the subject property, 10.6% 3-mile population growth, and features some of the highest median incomes along the Front Range of Colorado – over $141,900.

“Retail is not dead; it is just changing. Private capital investors continue to seek well placed retail investments that are in lifestyle shopping districts with tenants that play against e-commerce.  Investors, developers and most importantly tenants are realizing the synergies of combining grocery anchored developments with additional “visit required” foot traffic tenants like fitness, specialty fashion, QSR and medical uses.” added Tom Ethington, Managing Partner, Investment Sales.

About Blue West Capital

Blue West Capital is a net lease real estate investment advisory firm focused on the acquisition and disposition of single-tenant net leased properties, retail shopping centers, and commercial investment properties nationwide. We are a team of commercial real estate experts committed to helping our clients achieve their investment goals through a combination of exceptional client communication, professional collaboration, and individual experience. 

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