Blue West Capital facilitated two single-tenant retail sales in the Denver metro area

METRO DENVER – Blue West Capital facilitated two single-tenant retail sales in the Denver metro area in February.

Blue West’s Tom Ethington, Robert Edwards and Noah Harrison represented the sellers in both deals.

In Parker, Smith Family Trust acquired the 8,371 sf SafeSplash Swim School property at 12240 Lioness Way from Mark Camacho for $3.08 mil-lion, according to Douglas County public records. 

“We strategically marketed the property both locally and nationally, generating competitive investor interest,” Ethington said. “The buyer recognized the long-term value of a service-oriented, e-commerce resistant swim school tenant located in the path of growth and development.”

SafeSplash Swim Schools is headquartered in Englewood and operates more than 150 locations around the country. The tenant commenced a new 15-year triple-net lease in January, fea-turing scheduled 2% annual rent increases, and personal and corporate guarantees. 

Built in 2020, the building recently underwent more than $1.3 million in capital improvements. The asset is positioned directly off East Lincoln Avenue, with visibility to 37,750 vehicles per day, and offers proximity to Interstate 25. The property  is located near several master-planned communities, including RidgeGate and Lone Tree City Center. Average annual household incomes in parts of Douglas County exceed $173,000, and the area’s population is projected to increase 2.68% annually in the next five years. 

In Centennial, Grand View Center and Lincoln Plaza purchased a 2,725 sf BMO Bank property at 2200 E. Arapahoe Road from Southglenn Property Holdings LLC. or $2.8 million, according to Arapahoe County public records.

“We were proud to advise and represent the landlord in the sale of the BMO building at The Streets at SouthGlenn, generating significant investor demand with more than 75 offering memorandum downloads and multiple competitive offers,” Ethington said. “Ultimately, we secured a strong outcome for the seller and a great long-term asset for the 1031 exchange buyer seeking stable income in a premier mixed-use location.”

The asset features a triple-net ground lease with approximately 3 1/2 years of remaining term, in addition to five five-year options and a corporate guarantee.

Built in 2008, the property is a prominent outparcel within The Streets at SouthGlenn, a lifestyle center with more than 4.4 mil-lion annual visitors, according to Placer.ai. The center benefits from proximity to major business hubs and affluent communities. The new master development plan for the area outlines residential developments that will increase the number of approved residen-tial units in the community to 1,125, raise the maximum building height to 75 feet, and add 25,000 sf of open space.

As featured in CREJ

DEAL TEAM
Tom Ethington, Robert Edwards, and Noah Harrison