The subject property is currently 100% leased to Pep Boys with 12.5 years remaining on a rare absolute NNN lease with annual increases. Pep Boys acquired Just Brakes in 2017 and re-branded the site shortly after the acquisition was announced. Additionally, the four 5 year option periods, which increase to Fair Market Value at the beginning of each option period, also features 2% annual increases.
The subject property is strategically located near the signalized hard corner the intersection of Founders Parkway/State Highway 86 & Woodlands Boulevard (30,991 combined vehicles per day) and is near the interchange of Colorado Highway 86 and Interstate 25 (108,200 combined vehicles per day). The subject property is close to the Outlets at Castle Rock, Colorado’s largest outlet center. The trade area is supported by more than 78,000 residents with an average household income higher than $115,000 within a 5-mile radius of the subject property. The property is located across the street from a Target Anchored Shopping Center and is directly adjacent to the UCHealth Urgent Care Center, as well as numerous other national credit tenants.
IN CONJUNCTION WITH
CO LICENSED BROKER:
Leuthold Commercial Properties