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3/06/23
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An investment partnership paid $2.5 mil for a 9.1k sf ($275/sf), fully leased single-tenant retail building in Wellington (Fort Collins), CO.
Built in 2021, the freestanding building is situated on more than one-half acre at 7590 5th St. It is leased to Dollar General, an American chain of variety stores.
Cushman & Wakefield’s Jared Goodman, CCIM, SIOR and Anne Spry represented the buyer, a joint venture of joint venture of Stover LLC, Cheyenne I LLC, Cheyenne II LLC and Meldrum LLC. The seller, Wellington CO DG LLC, was repped by John R. Wertz with Wertz Real Estate & Investment Services.
“This is a highly desirable investment asset consisting of brand-new construction in an underserved market that is supported by a strong corporate retail tenant with a long-term NNN lease,” noted Goodman. “The property is also conveniently located and offers high visibility from Interstate 25.”
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