DENVER, CO – [June 26, 2019] – Blue West Capital has completed the sale of two, two-tenant net leased retail buildings located at 3990 & 3996 Central Park Boulevard, Denver, CO for $5,728,800. There have been five new construction multi-tenant retail properties sold in Colorado in 2019, according to CoStar. Blue West Capital has sold three of the five.
Robert Edwards represented the purchaser in the transaction; a repeat Colorado-based 1031 exchange investor. The seller was a national developer.
The net leased properties are a part of Stapleton, a master planned community located twenty minutes east of downtown Denver. The newly constructed buildings are 10,900 square feet and are leased to Starbucks, Fuzzy’s Taco Shop, Cheba Hut, and Fierce 45. The property is located just south of Interstate-70, at the hard signalized intersection of the Enterprise Business Center industrial campus. The area is densely populated with over 320,000 residents within a five mile radius.
“It feels great to help a repeat client successfully sell a single tenant property and exchange it into this legacy four tenant net leased asset in the heart of Denver Metro’s wealthiest zip code. Not only did we improve the location of their investment, but we diversified their real estate portfolio and increased their cash flow. Deals like this are hard to find.” Said Robert Edwards, Managing Partner.