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6/21/17
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Pueblo West Retail Center, a 13k sf, strip center property in Pueblo West, CO, was purchased for $2.38 mil ($183/sf) by a San Clemente-based private investor. The property, which was sold by a private investor from San Diego, traded at an 8.38% cap rate.
The NNN-leased asset is fully occupied by eight tenants including Little Caesars, Jackson-Hewitt, Fantastic Sam’s, and Sally Beauty Supply. The property is shadow-anchored by the only Walmart Supercenter within the city.
Built in 2006 and situated on a 1.1-acre parcel, the property is located at 74 North McCulloch Blvd, at a signalized intersection at U.S. Route 50 and North McCulloch Blvd, which sees approximately 24,500 vehicles per day. Pueblo West is Southern Colorado’s fastest growing community.
Tom Chichester with Faris Lee Investments represented the buyer in the transaction. The seller was repped by CBRE. The closing cap rate was 8.38%.
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