The Boulder Group Facilitates Colorado Retail Sale
The single-tenant retail building traded for $14.7 million in a 1031 exchange.
Safeway. Image courtesy of The Boulder Group
The Boulder Group has arranged the sale of a 55,650-square-foot single-tenant retail building in Lone Tree, Colo., for $14.7 million. The firm’s Randy Blankstein and Jimmy Goodman represented the seller, a private investment company, and worked on behalf of the buyer, a 1031 exchange investor. The building is net leased to Safeway.
Located at 229 Lincoln Ave., the property is just off Interstate 25 and Freeway 87, and it is situated near other retailers and restaurants alongside Lincoln Avenue, including the Lincoln Commons at Ridgegate, Chipotle and Starbucks. Additionally, the store is close to Sky Ridge Medical Center, UCHealth Lone Tree Medical Center and several hotels. Approximately 193,000 people live within a five-mile radius, with an average income of about $180,000.
The Boulder Group’s list of recent deals includes the sale of a net-leased Lowe’s retail building in Concord, N.C. The property traded for $15.2 million in a 1031 exchange.
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