Multi-Tenant Retail Asset in Thornton Fetches $4.8M
NavPoint Real Estate Group has completed the sale of an 8,573-square-foot multi-tenant net lease investment asset located at 7315-7375 East 128th Avenue in Thornton. The transaction successfully closed in April 2020.
Built in 2018, the property is a single-story masonry building situated on 1.743 acres. The exterior of the property features a roof line with architectural interest and the site provides ample parking. The property is 100 percent leased by four retail tenants.
Matt Call and Ian Elfner of NavPoint represented the seller, DCP Quebec LLC, in this transaction. The buyer, YC Inc, was represented by Jae Kim of Re/Max 100, Inc.
Located on the hard corner of East 128th Avenue and Quebec Street, the asset offers easy access to E-470. The property is within a trade area that has limited retail competition while having the added benefit of a steadily growing residential population in the surrounding area.
Matt Call, principal at NavPoint, commented, “From the moment our team took this asset to market we had significant investor interest — a testament to the market sentiment about high quality, net leased service-based retail product in Colorado. With four tenants on new 10 year leases the buyer will benefit from continued growth in the Northern suburbs of Denver in and around this asset.”
“Our team diligently navigated and guided the transaction to a successful closing despite the market disruption caused by the Covid-19 pandemic,” said Elfner, also of NavPoint.
Photo courtesy of NavPoint