SouthGlenn Square

Centennial, CO
Price: $9,490,000
Cap Rate: 6.65%

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Blue West Capital is pleased to present the sale of SouthGlenn Square, a 61,487 SF multi-level retail center located at the busy intersection of S. University Blvd and E. Dry Creek Rd, in Centennial, Colorado.

SouthGlenn Square is located at 7562-7592 S. University Blvd, Centennial, CO 80122. Strategically located directly across S. University Blvd from a King Soopers anchored center and nearby Arapahoe High School and Shepherd of the Hill Lutheran Church School. Unique to its surrounding competition, SouthGlenn Square offers a diverse rent and space layout:

  • Pad retail: Average rents of $34/SF NNN | 4,731 SF (24% vacant)
  • Street level retail: Average rents of $11/SF NNN | 30,073 SF (18% vacant)
  • Lower level service retail: Average rents of $7/SF NNN | 26,683 SF (2% vacant)
  • Excellent demographics in 3 mile radius: $133,000 median household income, 5% population growth, and 100,000 population
  • 24.13% IRR at market occupancy (5 year pro forma)
  • SouthGlenn Square’s street retail rents are 70% below surrounding retail, with an additional value add opportunity through the lease up of the 12% vacancy
  • Income stream diversity – No one tenant accounts for more than 16% of the asset’s square footage

OFFERING SUMMARY

Price: $9,490,000

Cap Rate: 6.65%

Year Built: 1984

Building Size: 61,487 SF

INVESTMENT CONTACT

TOM ETHINGTON – LEAD
Managing Partner
Investment Sales
720.966.1624
Tom@BlueWestCapital.com

ZACH WRIGHT
Director
Net Lease Investment Sales
720.966.1628
Zach@BlueWestCapital.com

SHAWN DICKMANN
Analyst
Investment Sales
720.828.8310
Shawn@BlueWestCapital.com

ROBERT EDWARDS
Managing Partner
Investment Sales
720.966.1630
Robert@BlueWestCapital.com

BRANDON GAYESKI
Associate
Investment Sales
720.966.1627
Brandon@BlueWestCapital.com

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2020-05-29T11:35:36-07:00