by Katie Spence, CREJ
LAKEWOOD — A new construction, single-tenant, netleased 7-Eleven property was purchased by WT Residential Property Owner LLC, a Utahbased 1031 exchange investor, for just under $8 million.
Located at 1110 S. Wadsworth Blvd. in Lakewood, the 4,650-square-foot property is at Wadsworth and West Mississippi Avenue’s heavily trafficked, signalized intersection. The 7-Eleven is also conveniently located one-half mile south of Belmar, a 1.14 million-sf mixed-use urban development consisting of retail shops and restaurants, luxury hotels, contemporary apartments, entertainment and office space, which helped attract numerous qualified offers for the property, according to Blue West Capital.
Robert Edwards and Brandon Gayeski of Blue West Capital exclusively represented the repeat seller, NNN Wads Miss LLC, a Denver-based developer, in the transaction. Peoples State Bank was the lender.
“We were able to close the transaction with the Utah 1031 exchange buyer prior to 7-Eleven opening for business. This is the second gas station Blue West Capital has sold in the Denver metro this year,” said Edwards in a press release.
“New construction single tenant properties with longterm leases and investment-grade tenants that are in desirable major MSAs continue to be at the forefront of demand amongst net lease investors,” added Gayeski.
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