|
|
8/28/15
|
Silverthorne Investors LLC purchased a 100 percent-occupied, NNN 7-Eleven and Shell Gas Station along with a planned Dunkin Donuts Silverthorne, CO, a town of about 4,000 people situated roughly 65 miles west of Denver.
The asset was acquired for $7.25 mil as part of a 1031 exchange. Although the actual building square footage was not given out, we’re told that the sale came in at around $1,500/sf, which would make the building around 4.8k sf in size.
The retail asset is situated on 1.23 acres at Blue River Rd / Hwy 9 off I-70, at the gateway to six world-class ski resort destinations including Breckenridge, Vail and Copper Mountain. The property includes major tenants 7-Eleven and Shell Gas and is planned for a Dunkin Donuts franchise. Dunkin Donuts signed a brand new NNN lease this year, making it the first location for the franchise in all of Summit County, CO.
The seller, a private investor, was represented by Dan Hoogesteger and Andrew Chana of Sands Investment Group. Silverthorne repped itself in the transaction.
“The high-profile, high traffic location made this asset an extremely lucrative investment. Plus you have strong brand presence with a new Dunkin Donuts and long-standing 7-Eleven, which continues to show a strong operating history,” said Hoogesteger. “This was a highly complex transaction as there were really no comps that matched the high-profile location.”
According to Hoogesteger, the Blue River / Highway 9 intersection gets approximately 31,000 cars per day and the I-70 Interstate location sees approximately 41,000 cars per day.
|
|
 Return to the Archive page
|
|
|
|
|
Printer-friendly Version
Email an Associate
