Centennial, CO
Price: $6,539,000
Cap Rate: 4.25%
Status: UNDER CONTRACT

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The Streets at SouthGlenn

Outparcel 1 | Chick-fil-A & Cafe Rio
6997 S University Blvd | Centennial, CO 80122

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Blue West Capital is pleased to present the sale of the two-tenant hard corner outparcel to The Streets at SouthGlenn, a 7,350 square foot 100% leased drive thru retail building. Chick-fil-A & Café Rio thrive at The Streets at SouthGlenn due to Centennial’s excellent demographics, the highly trafficked indoor-outdoor infill lifestyle center, and the anchor tenant consumer draw. 100% of the rent roll is corporately guaranteed by industry-leading food operators. Chick-fil-A is currently paying just $35/SF + NNN for their double drive thru location, about 70% below market. Both tenants have been at their location for 8.5+ years. 

  • LOCATION, LOCATION, LOCATION: 4.6M+ customers visit the lifestyle center annually.
  • KEY ANCHORS: Whole Foods, Chick-fil-A, Best Buy, Regal Theaters, H&M, SouthGlenn Public Library, 214-unit luxury apartment building, 131,000 SF Class A office and two planned redevelopments.
  • DENSE HIGH-INCOME DEMOGRAPHICS: The surrounding five-mile demographics boast household incomes of $133,564, a population of 290,725, and a median home value for zip code 80122 of $560,000.
  • THE “WHOLE FOODS EFFECT”: Studies have shown commercial buildings located in close proximity to a Whole Foods have lower vacancy and higher rent growth.

OFFERING SUMMARY

Price: $6,539,000
Cap Rate: 4.25%

Building Size: 7,350 SF
Occupancy:
100%

INVESTMENT CONTACT

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

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

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2022-04-19T10:30:38-07:00
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