Legend Investment Group (LIG), a division of Legend Partners, LLP is pleased to announce the sale of a single tenant, net leased Big O Tires located at 6430 W 120th Ave, Broomfield, CO for $2,800,000. After generating multiple offers the property was sold all cash to a 1031 exchange buyer out of California and leased back to the seller for a 20-year term.
The 4,608 square foot Big O Tires is a part of the Villager Square Shopping Center in Broomfield, a 120,000 square foot community center anchored by Pacific Ocean Marketplace. The site is well positioned along Broomfield’s main retail corridor with great access, benefiting from the new addition of the interchange connection to 120th.
Legend Investment Group worked with ownership to structure a lease that would maximize the value of the property while ensuring a sustainable occupancy cost for the future. The 20-year absolute net lease features rental escalations every 5 years.
“After owning the property for over 20 years, the seller was looking for a way to monetize their real estate while continuing their successful operation of the business. Already being one of Denver’s highest performing Big O Tire locations, the sale-leaseback deal was a perfect match for a passive investor looking for a dependable income stream with a high-quality operator.” stated Matthews.
Photo courtesy of Legend Investment Group