Westminster, CO
Price: $3,200,000
Pro Forma Cap Rate: 9.29%
Status: AVAILABLE

MainPhoto
MainPhoto3
MainPhoto2
Aerial
2Aerial
MainPhoto MainPhoto3 MainPhoto2 Aerial 2Aerial

DOWNLOAD OM

Blue West Capital is pleased to exclusively offer for sale The Colonnades in the Denver MSA, an affluent and densely populated area. This is a value-add opportunity by leasing the vacant 6,391 SF (40% of GLA). The tenants accounting for 85% of in-place revenue have operated at this center for more than 13 years and Lamar’s Donut’s recently extended their lease demonstrating their commitment to this location.

The property is strategically located 15 miles east of Boulder & north of Downtown Denver with average household incomes of over $127,000 within three miles. It is positioned just off the heavily trafficked signalized intersection of Wadsworth Pkwy & Church Ranch Blvd (60,400 VPD) and approximately two miles south of Rocky Mountain Metropolitan Airport (4th busiest airport in the state and a popular choice for business flights given it’s the closest airport to downtown). National retailers in the immediate area include Target, King Soopers, Costco, Home Depot, TJ Maxx, Walgreens, Chase Bank, Wells Fargo, 7-Eleven, Starbucks, McDonald’s, Panda Express, Caliber Collision, FedEx, Ace Hardware, and numerous others.

  • Located within the Denver MSA in an affluent and densely populated area
  • Strategically located 15 miles east of Boulder & north of Downtown Denver
  • Value-add opportunity by leasing the vacant 6,391 SF (40% of GLA)
  • Pro Forma 9.29% cap rate after leasing the vacant space at $20/SF. Our underwriting includes $55/SF in TI’s, a 5.0% leasing commission, and 178% of the current environmental quote to remediate the site
  • Affluent surrounding area with average household incomes of over $127,000 within three miles
  • Lamar’s Donut’s recently extended their lease demonstrating their commitment to this location
  • Tenants accounting for 85% of in-place revenue have operated at this center for more than 13 years
  • All tenants have rare 3% annual rental increases
  • Priced below replacement cost ($200/SF)
  • Located just south of Standley Lake High School (1,350 students)
  • Just off the heavily trafficked signalized intersection of Wadsworth Pkwy & Church Ranch Blvd (60,400 VPD) 
  • Positioned approximately two miles south of Rocky Mountain Metropolitan Airport (4th busiest airport in the state and a popular choice for business flights given it’s the closest airport to downtown) and two miles south of Fortune 500 Ball Corporations corporate headquarters
  • National retailers in the immediate area include Target, King Soopers, Costco, Home Depot, TJ Maxx, Walgreens, Chase Bank, Wells Fargo, 7-Eleven, Starbucks, McDonald’s, Panda Express, Caliber Collision, FedEx, Ace Hardware, and numerous others

OFFERING SUMMARY

Price: $3,200,000
Cap Rate: 5.36% | Pro Forma Cap Rate: 9.29%

Leaseable SF: 16,004 SF
Land Size:
3.61 AC

INVESTMENT CONTACT

BRANDON GAYESKI
Director
Investment Sales
720.966.1627
Brandon@BlueWestCapital.com

VIEW ALL LISTINGS
GET IN TOUCH
2022-08-11T09:42:12-07:00
Go to Top