Smoky Hill Town Center

Centennial, CO 80015



Cap Rate: 7.00%

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Vasa Fitness Anchored Neighborhood Center

Blue West Capital is pleased to exclusively offer for sale Smoky Hill Town Center, a Vasa Fitness anchored neighborhood center. The portfolio includes a 64,400 square foot three-tenant retail property. The subject property has seen recent leasing momentum with national tenants Big Blue Swim School and Vasa Fitness signing long term leases in 2021.

The subject property is located southeast of South Himalaya Street along East Smoky Hill Road creating maximum visibility and easy customer access. It benefits from access on both South Himalaya Street as well as East Smoky Hill Road. The surrounding retail stores within the center provide great synergy consisting of service and restaurant-based tenants. The other outparcels include a Safeway fuel-station, Walgreens, PNC Bank, and a multi-tenant building featuring a Chipotle. 

Centennial, CO is surrounded by dense suburban neighborhoods and ranked as one of the best places to live in the United States. The Smoky Hill Town Center is conveniently located only seven minutes away from Southlands Mall, the largest shopping center in the Denver MSA. It is also less than 20 minutes from the Denver Tech Center, the region’s largest employment center with 237,000 jobs and home to most of Denver Metro’s Fortune 500 companies. The average household income within a 3-mile radius of the portfolio is $154,269, with a median home value for zip code 80015 of $596,000. These excellent demographics result in high traffic and revenue for each tenant, ensuring profitability and promising potential for future rent growth. 

Investment Highlights

  • HIGH WALT AMONG NATIONAL TENANTS: The weighted average lease term of the Big Blue Swim School and Vasa Fitness is 10.4 years.
  • SCHEDULED RENT INCREASES: Big Blue Swim School and VASA Fitness both have 10% rent increases every five years and in each option.
  • NNN LEASES & EASE OF OWNERSHIP: The offering is structured with multi-tenant triple net leases that reimburse third party management costs. This allows for minimal landlord responsibility and passive ownership.
  • LIMITED ANCHOR COMPETITION: There are very few big-box fitness centers in the Smoky Hill Town Center’s surrounding area.
  • PRICED BELOW REPLACEMENT COST: Listed at $211/SF for the improvements and $48/SF for the land, the center is offered well below the current replacement cost.
  • SERVICE & EXPERIENCE-BASED TENANTS: The center includes the perfect mix of fitness, service, and restaurant-based tenants.


Blue West Capital, LLC

Location Highlights

  • DENSE HIGH-INCOME DEMOGRAPHICS: The surrounding three-mile demographics boast household incomes of $154,269, a population of 120,750, and a median home value for zip code 80015 of $596,000. These combined demographics are some of the best in the State of Colorado.
  • HIGH TRAFFIC CORRIDOR: Smoky Hill Town Center sees over 39,100 vehicles per day along E Smoky Hill Road. The center can also be accessed from S Himalaya Street which sees 22,000 vehicles per day.
  • NEARBY NATIONAL RETAILERS: King Soopers, Sprouts Farmers Market, Walmart Supercenter, The Home Depot, Target, Walgreens, Best Buy, Ross Dress for Less, Sam’s Club, Chipotle, and more.

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Contact Information

400 S. Colorado Blvd | Suite 590
Denver, CO 80246