Triple-Net (NNN) Ground Lease | Outparcel to Whole Foods Market
Blue West Capital is pleased to exclusively present for sale a BMO Bank at The Streets at SouthGlenn - a single-tenant retail property in one of the Denver MSA’s most prominent lifestyle destinations. The offering is an outparcel to a dominant Whole Foods Market and is located within the #1 lifestyle center in the Denver MSA for foot traffic, with over 4.2M annual visitors (Placer.ai).
The offering features a single-tenant BMO Bank operating on a Triple-Net (NNN) Ground Lease with ~3.5 years of remaining term. The lease features a corporate guarantee from Bank of Montreal, an investment-grade entity (S&P: A). The lease also features scheduled 10% rental increases every five years of the primary term and five, five-year options.
Located in Centennial, CO, The Streets at SouthGlenn benefits from its proximity to major business hubs and affluent communities including Downtown Denver (12 miles), Denver Tech Center (6 miles), Highlands Ranch (5.5 miles), Greenwood Village (2.5 miles), and Cherry Hills Village (4 miles). The new SouthGlenn Master Development Plan (MDP) outlines pending residential developments that will increase the number of approved residential units in the community from 350 to 1,125, raise the maximum building height for the Sears and Macy’s parcels from 50 to 75 feet, and add 25,000 square feet of open space.
