LAKEWOOD, CO – [March 13, 2023] – Blue West Capital has completed the sale of a new construction single tenant net leased 7-Eleven property located at 1110 South Wadsworth Boulevard in Lakewood, CO. Robert Edwards and Brandon Gayeski, of Blue West Capital, exclusively represented the repeat seller in the transaction. The Seller was a national developer, and the purchaser was a Utah-based 1031 exchange investor.
The brand-new construction 4,650 square foot 7-Eleven property is located at the heavily trafficked signalized intersection of Wadsworth Blvd & Mississippi Ave. The 7-Eleven is located one-half mile south of Belmar, a 1.14 million square foot, mixed-use urban development consisting of retail shops and restaurants, entertainment, luxury hotels, office space, and contemporary apartments. The surrounding area is affluent with average household incomes in excess of $106,000 within one mile.
7-Eleven has a long-term lease with fixed rental increases. The lease is corporately guaranteed by 7-Eleven, which is an investment grade rated company (S&P: A). This location is expected to open in March 2023 and will feature 8 gas pumps and a Laredo Taco restaurant.
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 Captital has sold in the Denver Metro this year.
Robert Edwards, Managing Partner
New construction single tenant properties with long-term leases and investment grade tenants that are in desirable major MSA’s continue to be at the forefront of demand amongst net lease investors.
Brandon Gayeski, Director
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