Colorado-Real-Estate-Journal_370091

Page 18 - November 1-14, 2023 www.crej.com Retail By Avalon Jacka DENVER – Leven Supply is the newest tenant to sign on at Wash Park Supply. Leven leased 2,800 sf at the retail center, located at 300 E. Alameda Ave., for a restaurant, and gift and wine shop. Zachary Bierman of Kaufman Hagan Commercial Real Estate represented Leven in the lease. Sam Zaitz and Jeff Feldman of JLL and Courtney Key of SullivanHayes Broker- age represented ZS Capital Partners and Elkco Properties, owners of Wash Park Supply. In mid-2024, the group behind Leven Deli Co. will open the new concept. Leven Supply’s grab-and-go restaurant will offer made-to-order sandwich- es, salads, pizza and more. The gift and wine shop will feature high-end grocery goods and a curated wine selection focused on value-driven and approach- able wines. “Leven Supply came about because we want to provide continual growth opportuni- ties for our team members,” said Leven founder Anthony Lygizos. “We think the Wash Park Supply project will revital- ize this corner of West Washing- ton Park and are excited to part- ner with ZS Capital and Elkco Properties to make Leven Sup- ply a part of their 20,000-square- foot retail center. We can’t wait for this fully renovated and modernized common space to be filled with energy and com- munity.” Leven also recently leased a 11,840-sf production facility at 4190 Garfield St., where Leven will create its scratch-made goods, such as sourdough bread, pastrami, mustard, dress- ings, seasonings and soups for Wash Park Supply welcomes new 2,800-sf tenant, Leven Supply By Avalon Jacka COLORADO SPRINGS – Blue West Capital arranged the sale of a newly constructed Taco Bell off North Powers Boule- vard. L o c a t e d at 3521 Blue Horizon View, the 2,053-sf property sold for $2.42 mil- lion. The all- cash transac- tion closed in 35 days. Blue West’s Brandon Gayes- ki represented the buyer, an undisclosed California-based 1031 exchange investor. Gayes- ki assisted with both the down- leg and upleg transactions for the investor, with the first property relinquished in first- quarter 2023. The Internal Rev- enue Service granted the buyer an extension on their 1031 exchange deadlines because they were living in an area of California that was impacted by flooding and mudslides, Gayeski said. “Recognizing the potential benefits of this extended time- line, combined with a deterio- rating market, we advised our client to remain patient, expect- ing more favorable pricing later in the year,” Gayeski said. “As a result, our client successful- ly acquired this well-located, newly constructed Taco Bell, featuring a 20-year lease with zero landlord responsibilities, while achieving a return on investment similar to that of her relinquished property.” Justin Zahn of CIA Broker- age Co. represented the seller, which is listed as Quick Ser- vice Realco LLC on El Paso County public records. The Taco Bell includes a 20-year triple-net lease with no landlord responsibilities, and rental increases every five years. The Taco Bell location is operated by a Kansas-based franchisee with more than 840 restaurants under manage- ment. The new location opened in early October. The property is situated at the first signalized intersection east of Powers Boulevard at Old Ranch Road, across the street from Pine Creek High School, with more than 1,800 students. The average annu- al income within 1 mile tops $203,000. The annual projected population growth within a 1-mile radius is forecasted to be 5%. Taco Bell operates more than 8,200 locations and serves more than 2.1 billion custom- ers annually. Other News n FALCON – A Freddy’s Fro- zen Custard & Steakburgers near the intersection of Merid- ian Road and East Woodman Road has traded hands for $2.65 million. Drew Isaac and James Ras- senfoss of Marcus & Millic- hap’s Denver office had the exclusive listing to market the 3,030-sf net-leased property on behalf of the seller, an undis- closed limited liability com- pany. The undisclosed, out-of- state buyer was represented by CBRE. Located at 7575 Falcon Mar- ket Place, the building is situ- ated directly across the street from a new King Soopers cur- Blue West facilitates sale of newly built Taco Bell For inquiries contact: John Burke | City of Westminster Economic Development Department jburke@cityofwestminster.us | 303-658-2021 DowntownWestminster.us Located between Denver and Boulder, Westminster’s new downtown will be a civic, cultural and economic hub. With capacity for well over 10 million square feet of development, Downtown Westminster will continue to grow and evolve — BE A PART OF IT! Please see Leven, Page 48 Brandon Gayeski Please see Falcon, Page 49