FIRESTONE, CO – [August 22, 2023] – Blue West Capital has completed the sale of a single tenant net leased 7-Eleven property located at 11099 E I-25 Frontage Road in Firestone, CO for $6,666,667. Brandon Gayeski, of Blue West Capital, represented both the seller and purchaser in the transaction. The seller was a Midwest-based investor, and the purchaser was a California-based partnership. This is the 3rd gas station in the Denver MSA sold by Blue West Capital in 2023.
The 5,358 square foot 7-Eleven is strategically located directly off Interstate 25 (101,000 VPD) on a large 3.53-acre parcel that features 24 pumps and five high-flow diesel bays. The property underwent major renovations in 2020 that included the addition of a Laredo Taco restaurant. The surrounding area features many national retailers including Home Depot, Starbucks, McDonald’s, Wendy’s, Carl’s Jr, and numerous others. Firestone is one of Colorado’s fastest growing cities, located 25 miles north of downtown Denver.
The 7-Eleven features a long-term absolute triple net lease. There are no landlord responsibilities and fixed rental increases every 5 years. The lease is corporately guaranteed by 7-Eleven, which is an investment grade rated company (S&P: A). 7-Eleven is the world’s largest convenience store chain with over 83,000 locations.
Many single tenant convenience store properties, such as the 7-Eleven in Firestone, qualify for 80% Bonus Depreciation. This unique tax incentive allows real estate investors to depreciate a significant percentage of their acquisition price in year-one. The Bonus Depreciation will be reduced to 60% in 2024 as part of the tax benefit’s gradual phasing out.
"The purchaser was not in a 1031 exchange and their focus was on acquiring a single tenant gas station specifically for Bonus Deprecation benefits. They were particularly attracted to this 7-Eleven due to its strategic location directly off Interstate 25, the upcoming rental increase in 2025, and the oversized 3.53-acre lot. Most 7-Elevens are typically .5 to 1.5 acres. This is the 3rd gas station in the Denver MSA sold by Blue West Capital in 2023."BRANDON GAYESKI, DIRECTOR
About Blue West Capital
Blue West Capital is a net lease real estate investment advisory firm focused on the acquisition and disposition of single-tenant net leased properties, retail shopping centers, and commercial investment properties nationwide. We are a team of commercial real estate experts committed to helping our clients achieve their investment goals through a combination of exceptional client communication, professional collaboration, and individual experience. Blue West Capital is headquartered in Denver, CO.
For additional information, please visit www.BlueWestCapital.com.
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