Jun 5, 2024

Blue West Capital Completes the Sale of Two Freestanding Single Tenant Chili’s Grill & Bar and Jared Jewelers Properties

DENVER, CO – [May 24, 2024] – Blue West Capital has completed the sale of two freestanding single tenant Chili's Grill & Bar and Jared Jewelers properties located at 235 and 265 S Abilene St, Aurora, CO 80012. The properties sold for $5,578,150 and a 6.70% cap rate. Tom Ethington, Rob Edwards, and Noah Harrison represented the purchaser in the transaction, an all-cash Colorado-based investor.

The properties feature corporate-backed triple net ground leases allowing for passive ownership for the future owner. The properties are pad sites to the larger Aurora City Place which sees more than 6.6M annual visitors (according to Placer.ai). The properties feature excellent visibility and traffic counts from their frontage along I-225 (187,500 VPD) and E Alameda Ave (49,500 VPD). 

Chili's is owned by Brinker International which trades on the New York Stock Exchange under the ticker $EAT. Chili's Grill and Bar operates over 1,600 locations in 29 different countries. Jared is owned by Signet Jewelers Ltd. which trades on the New York Stock Exchange under $SIG. Jared Jewelers operates over 3,600 locations throughout the US, UK, and Canada.

Blue West Capital assisted the purchaser in a 2-year acquisition process before deciding on the acquired two ground leases. These properties were chosen due to their significant upside in rents, excellent location, large land parcel, high traffic counts, and corporate-backed lease structures. Blue West Capital was able to assist the Buyer though LOI negotiations, the purchase contract, due diligence hurdles, and to a successful close.

Tom Ethington, Managing Partner

PR Contact
Tom Ethington
(720) 966-1624
Tom@BlueWestCapital.com

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