Glenwood Springs, CO - Gerber Collision & Glass

Description:

• Tenant executed a 5-year lease extension in September 2020 with 3 (5-year) options to extend, demonstrating their commitment to the site
• 5% rental increases at the beginning of each option period, growing NOI and hedging against inflation
• The site receives additional income from an adjacent storage yard that currently brings in $3,127 in monthly rental income
• The lease is signed by Gerber Collision (Colorado), Inc.
• Founded in 1937, Gerber Collision is one of the largest auto collision and glass repair companies with over 800 locations across North America

• Located along Interstate 70 (27,000 VPD), the primary east/west commuter thoroughfare traveling through Glenwood Springs, CO
• Situated within close proximity to Glenwood Springs Shopping Center,
a 405,000 SF prominent retail center anchored by Target, Lowe’s Home Improvement, ULTA Beauty, and Petco
• Strong tenant synergy increases consumer draw to the immediate trade area