Colorado-Real-Estate-Journal_330353

Page 18 - March 1-14, 2023 www.crej.com Retail Thank you to all our clients & colleagues for making ROBERT EDWARDS Managing Partner 720.966.1630 TOM ETHINGTON Managing Partner 720.966.1624 2022 A SUCCESSFUL & RECORD BREAKING YEAR! WWW.BLUEWESTCAPITAL.COM SHAWN DICKMANN Associate 720.828.8310 BRANDON GAYESKI Director & Partner 720.966.1627 NOAH HARRISON Analyst 720.464.7488 BRANDON WRIGHT Associate 720.828.7457 ZACH WRIGHT Director & Partner 720.966.1628 CARLY GALLAGHER KELLY Director 720.828.6290 BRYCE MCNEELY Associate 720.738.0037 JOSH LORENZEN Associate 720.821.2520 Tenants Include C O L O R A D O L O C A L L Y B A S E D N A T I O N A L R E A C H No privately owned real estate company sold more net lease properties in Colorado in 2022 than Blue West Capital. 87 Properties sold nationally 33 Properties sold in Colorado 28 Properties sold for less than a 5.00% cap rate 21 States 3 New team members by Jenna Walters COLORADO – Quick-ser- vice health food concept d’Lite Healthy On The Go is planning a Colorado expansion and looking for potential franchisees. D’Lite is making a move from its home state of Arizona, where it has six existing locations, and planning a new location in Colorado. According to d’Lite co-founder Chad Knudson, the restaurant brand is exploring all areas of the state for its new loca- tion but is particularly interested in Denver, Colorado Springs, Aurora and other densely pop- ulated suburbs along the Front Range. The brand hopes to find and secure a local franchisee that shares its values for healthy, con- venient food crafted and served with care, Knudson said. Colorado is a desirable market for d’Lite because of the hip food and dining environment already present in the state, Knudson said. He added that many Colo- radans lead a very healthy, active lifestyle, so d’Lite’s on-the-go con- cept will be a welcome addition for those looking to grab a quick bite and not sacrifice nutrition. “As the health food industry, along with coffee and breakfast restaurant concepts, have taken flight in the franchise world, they are also becoming a consumer’s preference, as more are turning to find a quick bite to eat,” said Brooke Knudson, co-founder of d’Lite and Chad’s wife. “D’Lite Healthy On The Go will make eating healthy accessible and affordable for busy consumers in Denver. By blending healthy food options and convenience together, there truly isn’t another fast-food concept like d’Lite, and we look forward to becoming a new staple for those prioritiz- ing healthy lifestyles through the foods they eat.” Once the Colorado franchise agreement is signed, the franchi- see will work with a local bro- ker to find and secure the real estate for the new d’Lite location. According to Chad Knudson, the size of the restaurant could vary from 800 to 3,000 square feet. The brand looks for a property with a drive-thru and sometimes considers outdoor patio space as well, he said. Knudson added that while the firm has not devel- oped any of its current locations, there’s the future possibility for ground-up construction on a pad site. The Colorado location would likely open approximately a year after the franchise agreement is signed. In the meantime, d’Lite opened its newest location in the greater Phoenix area late last year and is exploring other promis- ing opportunities for growth in Nevada, Utah, Texas, Washington and Oregon. Other News n COMMERCE CITY – An O’Reilly Auto Parts property in Commerce City recently trad- ed hands. According to public records, buyers MTK Manage- ment LLC and LMK Manage- ment LLC purchased the approx- imately 7,000-sf asset at 6091 E. 72nd Ave. from Theodora Checkers LLC for $1.8 million. Brandon Gayeski of Blue West Capital brokered the transaction on behalf of the seller, a Califor- nia-based private investor. O’Reilly Auto Parts has oper- ated at the property since 2000 and has approximately two years remaining on its corporate lease, which features rental increases in the renewal option periods and no landlord responsibilities. According to Blue West, the property sold for 99% of the ask- ing price within 17 days of being under contract. The Colorado- based buyer acquired the prop- erty in an all-cash deal, part of a 1031 exchange. “Despite diminished net lease demand, infill single-tenant prop- erties located in the Denver metro area continue to remain resilient and are at the forefront of investor demand,” Gayeski said. “This is the fourth O’Reilly Auto Parts in the Denver metro area that we’ve sold within the past 10 months.” n METRO DENVER – OHM Fitness, a fitness brand that uti- lizes electro-muscle stimulation, is expanding to the Denver metro area after Estes Park resident and franchisee Kathy Franklin secured 25 franchise licenses. The first locations likely will be in the Denver suburbs. Franklin and her husband, Scott Franklin, are working to find the new retail locations and targeting Highlands Ranch, Aurora and Thornton. “These high-growth areas are vibrant and dynamic commu- nities with significant densities, and we know the residents will embrace the future of fitness,” Kathy Franklin said. Blake Larson at Legend Part- ners is assisting in the property search and will guide the Frank- lins through the property selec- tion process and lease negotia- tions. According to Kathy Franklin, the ideal location would be a highly trafficked shopping center with easy access and parking. A grocery or national big-box retail- er-anchored center with health and wellness co-tenants, coffee concepts and fast-casual dining Quick-service health food concept plans Colorado expansion Chad and Brooke Knudson, found- ers of d’Lite Healthy On The Go, are bringing the concept to Colorado. Please see OHM, Page 20 The O’Reilly Auto Parts property at 6091 E. 72nd Ave. in Commerce City sold.