Marcus & Millichap recently brokered the sale of a Buffalo Wild Wings property strategically located at the Promenade at Castle Rock, adjacent to the Outlets at Castle Rock. The property sold for $2,525,000 or $399.46 per square foot.
The property is a part of Buffalo Wild Wings’ new restaurant design, featuring a unique and immersive experience to hang out and watch games. The new design features a dominant bar, indoor/outdoor space, and VIP spaces.
Drew Isaac, senior managing director, and Ian Hicks, associate in Marcus & Millichap’s Denver office, had the exclusive listing to market the property on behalf of the seller, Niki Castle Rock, LLC, a California Limited Liability Company.
“The brand-new restaurant property sold to a 1031 exchange buyer and became the lowest cap rate for a Buffalo Wild Wings to sell in the country. A testament to the Castle Rock market, even during these economic headwinds,” commented Hicks.
According to Marcus & Millichap, Castle Rock is one of the fastest-growing cities in the United States, with the population expected to grow by an additional 15.7 percent over the next five years.
