Castle Rock, CO - Qdoba & Shops

Description:

SRS Multi-Tenant Investments is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in 100% leased, freestanding, Four Tenant Retail Center located in Castle Rock, Colorado (Denver MSA). The asset features a well-diversified, internet resistant tenant mix comprised of Restaurant, Fitness, and government tenants, providing a stable income stream for a future investor. Apart from the Marine Corps, the tenants operate under leases which are NNN in nature, limiting expense leakage for a future investor. QDOBA, a fast-casual Mexican restaurant with approximately 800 locations across the U.S., Canada, and Puerto Rico, has been recognized as the “Best Fast Casual Restaurant” by the USA Today 10Best Readers’ Choice Awards for six consecutive years.

The asset is strategically located near the signalized, hard corner intersection of State Highway 86 and Front Street which supports over 47,300 vehicles per day. The site also benefits from nearby access to Interstate 25 (130,200 VPD) and US Highway 85, making this an ideal, centralized location with easy commutes. Furthermore, the subject property is adjacent to Milestone Crossing, a 215,000 SF community center anchored by Kohl’s, PetSmart, Office Depot, and more. The asset is also within walking distance from the Outlets at Castle Rock, a 464,000 SF outlet mall that hosts over 6 million consumers per year and ranks in the top 84th percentile of outlet malls nationwide (per placer.ai), significantly increasing consumer draw to the immediate subject trade area. Other nearby national/credit tenants include Home Depot, Target, Walmart Supercenter, Whole Foods, Lowes, King Soopers, Ross, Hobby Lobby, and more. Strong tenant synergy increases consumer draw to the immediate subject trade area and promotes crossover tenant exposure to the site. Moreover, the asset is located directly adjacent to Echo Ridge Apartments (340 units), providing a direct residential consumer base from which to draw. The 5-mile subject trade area is supported by more than 93,000 residents and 26,000 daytime employees who boast extremely affluent average household incomes of more than $185,000.