COLORADO SPRINGS, CO – [October 17, 2023] – Blue West Capital has completed the sale of the 33,892 square foot multi-tenant retail/flex property located at 750 W Garden of the Gods Rd, Colorado Springs, CO for $5,080,000. Bryce McNeely of Blue West Capital represented both the seller and purchaser, a local 1031 exchange buyer and repeat client, in the off-market transaction.
750 Garden of the Gods Rd is a multi-tenant retail/flex property located along a prominent thoroughfare in the Northeast Colorado Springs submarket. The property sits on a hard corner, ideally situated near I-25 Highway along the heavily trafficked Garden of the Gods Rd (52,000 VPD), and is 100% occupied by a mixture of local tenants. Furthermore, it is surrounded by national retailers such as Safeway, Whataburger, Raising Cane’s, Wendy’s, Chick-fil-A, and many more. As the Garden of the Gods Rd corridor continues to experience new development and growth, this property is poised for ongoing success and the potential for strong rent growth.
I leveraged my network and well-established relationships within the Colorado Springs market to facilitate this off-market transaction for a 1031 exchange buyer and repeat client. The buyer was drawn to this property due to its location, attractive sale price per square foot, and potential to increase rents over time. Despite the uncertainties in the debt market and the challenges posed by the rising federal funds rate, we successfully aided the buyer in securing favorable lending terms, ensuring that the property not only provides effective cash flows but also an attractive cash-on-cash return.Bryce McNeely, Associate
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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