COMMERCE CITY, CO – [February 3, 2023] – Blue West Capital has completed the sale of a single tenant net leased O’Reilly Auto Parts property located at 6091 E 72nd Avenue in Commerce City, CO for $1,800,000. The quick all-cash transaction sold within 17 days of being under contract for 99% of the asking price. This is the 4th O’Reilly Auto Parts in the Denver MSA sold by Blue West Capital within the past 10 months.
Brandon Gayeski, of Blue West Capital, exclusively represented the seller in the transaction. The seller was a California-based private investor and the repeat purchaser was an all-cash Colorado-based 1031 exchange investor.
The O’Reilly Auto Parts property is strategically located nine miles north of Downtown Denver off Highway 2. Nearby retailers include Dollar General, 7-Eleven, Wendy’s, Taco Bell, Starbucks, King Soopers, and numerous automotive dealerships and repair shops. Dick’s Sporting Good Park, home to the Colorado Rapids, is located less than three miles from the property.
O’Reilly Auto Parts has operated at this location since 2000 and has approximately two years remaining on their lease. The corporate lease features no landlord responsibilities and rental increases in the renewal option periods. O’Reilly Auto Parts is a publicly traded company (NYSE: ORLY) with a market capitalization in excess of $50 billion. The company is investment grade rated with a Standard & Poor’s rating of BBB.
“Despite diminished net lease demand, infill single tenant properties located in the Denver MSA continue to remain resilient and are at the forefront of investor demand. This is the 4th O’Reilly Auto Parts in the Denver MSA we’ve sold within the past 10 months,” stated Brandon Gayeski, Director.
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