.svg)
.svg)
Longmont, CO - Horizon Park Shopping Center
2151 Main Street, Longmont, CO
$33,500,000
Price
6.1%
Cap Rate
$2,043,630
NOI
Overview
Description
SRS Investment Properties Group is pleased to offer the opportunity to acquire the fee simple interest (land and building ownership) in Horizon Park, a 97% occupied, 247,183 SF regional shopping center located in Longmont, CO (Boulder MSA). Horizon Park is a grocery anchored center with major tenants including King Soopers
(subsidiary of Kroger and a dominant grocer in Colorado), Big Lots, Planet Fitness, Dollar Tree, Murdoch’s Ranch & Home Supply, and arc Thrift Stores. Big Lots and
arc Thrift Stores, recently executed new 10-year leases with rental increases and Murdochs also signed a new 10-year lease with two additional 5-year options. The center also features four freestanding outparcels: Noodles and Co., Take 5 Oil Change, and a King Soopers fuel station. In addition, Horizon Park has the potential for an additional two pad sites, offering an investor substantial upside through future development or ground leases.
The subject property is ideally located along Main Street (36,100 VPD) between two signalized, hard corner intersections with multiple points of ingress/egress, providing ease and convenience for consumers. The site is also just off of State Highway 66 (30,000 VPD) with quick access to the on/off ramps. Furthermore, Horizon Park has multiple monument/pylon signs, providing increased visibility to the center.
The city of Longmont is just 36 miles outside of Denver and 19 miles away from Boulder, which gives residents the ability to conveniently access the major metropolitans. Longmont also houses major tech firms including Seagate ($10.7 billion in revenue), DigitalGlobe ($702 million in revenue), Micron Technology ($20.3 billion in revenue), Xilinx and more, demonstrating that Longmont (Gig City) is an up and coming tech/start-up hub with its citywide symmetrical gigabit internet service (without data caps). The 5-mile trade area is supported by a dense population of over 103,000 residents with an affluent average household income of over $117,610.
Listing ID: a288X000007Vl9wQAC
Location
Gallery
