Colorado-Real-Estate-Journal_338227

Page 10 - April 19-May 2, 2023 www.crej.com Retail by Katie Spence LAKEWOOD —A new con- struction, single-tenant, net- leased 7-Eleven property was purchased by WT Residential Property Owner LLC, a Utah- based 1031 exchange investor, for just under $8 million. Located at 1110 S. Wad- sworth Blvd. in Lakewood, the 4,650-square-foot property is at Wadsworth and West Mississippi Avenue’s heavily trafficked, sig- nalized intersection. The 7-Elev- en is also conveniently located one-half mile south of Belmar, a 1.14 million-sf mixed-use urban development consisting of retail shops and restaurants, luxury hotels, contemporary apartments, entertainment and office space, which helped attract numerous qualified offers for the property, according to Blue West Capital. Robert Edwards and Bran- don Gayeski of Blue West Capi- tal exclusively represented the repeat seller, NNN Wads Miss LLC, a Denver-based developer, in the transaction. Peoples State Bank was the lender. “We were able to close the transaction with the Utah 1031 exchange buyer prior to 7-Elev- en opening for business. This is the second gas station Blue West Capital has sold in the Denver metro this year,” said Edwards in a press release. “New con- struction single- tenant proper- ties with long- term leases and i n v e s t m e n t - grade tenants that are in desirable major MSAs continue to be at the forefront of demand amongst net lease investors,” added Gayeski. Other News n DENVER — Blue West Capi- tal completed the sale of a mul- titenant retail building for $3.79 million. The property received multiple offers and sold above the asking price. In the transaction, Robert Edwards, Bryce McNeely and Tom Ething- ton of Blue West Capital exclusively rep- resented the seller, a Den- ver-based real estate invest- ment company. The buyer was a local private investor. “Selling Vil- lage Square during the Fed- eral Reserve's initial rate hikes proved to be an exciting process. Of the hand- ful of offers we quickly procured, most were all cash at full price. The best terms happened to come from a local purchaser with a prequali- fied credit union loan at a reason- able fixed rate,” said Edwards in a press release. “Despite higher borrowing costs, demand for risk-adjusted retail investments remains steady. This is evidenced by the eight offers we received in the first week of marketing the property, which resulted in a sale above the ask- ing price. Village Square Shopping Center features a mixture of local credit tenants with staggered lease expirations and below market rents that position this property for future value-add and continued stabilization.” added McNeely. Located at 2400-2426 E. Bridge St. in Brighton and built in 1973, the Class C retail property is 19,795 sf and sits on 2.83 acres. It's 100% leased and anchored by Bomgaars. Nearby retailers include McDon- alds, Safeway, Walgreens, King Soopers, Advance Auto Parts, Bellco Credit Union, Kum & Go and others. s Net-leased 7-Eleven in Lakewood sells for almost $8 million WT Residential Property Owner LLC purchased a net leased 7-Eleven for almost $8 million In a volatile market, experience ma ers. C O LO 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 ROBERT EDWARDS Managing Partner 720.966.1630 TOM ETHINGTON Managing Partner 720.966.1624 SHAWN DICKMANN Associate 720.828.8310 BRANDON GAYESKI Director 720.966.1627 BRANDON WRIGHT Associate 720.828.7457 ZACH WRIGHT Director & Partner 720.966.1628 CARLY GALLAGHER KELLY Director 720.828.6290 JOSH LORENZEN Associate 720.821.2520 BRYCE MCNEELY Associate 720.738.0037 B LU E W E STCA P I TA L . C O M Scan to view AVAI LABLE LISTI NGS Do you have an upcoming 1031 Exchange? LAKEWOOD, CO | PRICE $7,929,000 CONTACT THE NET LEASE MARKET LEADER. 7 2 0. 9 8 9 . 10 3 1 I N F O @ B LU E W E STCA P I TA L . C O M 7-Eleven JUST SOLD BRIGHTON, CO | PRICE $3,875,000 Village Square Shopping Center JUST SOLD CENTENNIAL, CO | PRICE $2,667,000 Starbucks JUST SOLD Robert Edwards Brandon Gayeski This 19,795-sf retail property is 100% leased. See Other News Bryce McNeely Tom Ethington