Mar 17, 2021

Blue West Capital Arranges Sale of Natural Grocers in Colorado for Record Low Cap Rate

WOODLAND PARK, CO – [March 17, 2021] – Blue West Capital has completed the sale of a single tenant net leased Natural Grocers property located at 916 Paradise Lodge Lane in Woodland Park, CO for $6,500,000. The property sold for a 5.54% cap rate, the 2nd lowest cap rate ever sold for a single tenant Natural Grocers nationally, according to CoStar.

Brandon Gayeski, of Blue West Capital, represented the Seller in the Natural Grocers transaction; a Denver-based private investor. The purchaser was a Colorado-based 1031 exchange investor.

The 13,337 square foot Natural Grocers opened in 2019 and has a long-term absolute triple net lease. Natural Grocers is a publicly traded company (NYSE: NGVC) headquartered in Lakewood, CO. Natural Grocers has 159 locations and is a rapidly expanding retailer of natural and organic groceries and dietary supplements.

The Natural Grocers property is positioned along US Highway 24 which is the primary thoroughfare in Woodland Park and experiences traffic counts of 27,000 vehicles per days. The property is surrounded by numerous national retailers such as Walgreens, Safeway, Goodwill, AutoZone, Starbucks, McDonald’s, Sonic, Arby’s, and many others. Woodland Park is the most populous city in Teller County and is located 15 miles west of Colorado Springs.   

“Cap rates for single tenant net leased properties deemed essential continue to compress as available inventory is extremely low, while demand remains very high. The currently supply-demand imbalance has created very favorable market conditions for sellers of single tenant properties,” said Brandon Gayeski, Associate Director.

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