BrokerageRetail

O’Reilly Auto Parts in Fountain Sells for $2.4M

A 7,150-square-foot single tenant net leased O’Reilly Auto Parts retail investment located at 7985 Fountain Mesa Road, in Fountain, Colorado has sold at the full asking price of $2.4 million.

Constructed in 2017, the property is part of the Markets at Mesa Ridge shopping center. This busy retail center is anchored by Safeway and includes several fast-casual dining options like Chick-fil-A and Sonic. As part of the shopping center, this property offers ample parking.

Matt Call and Ian Elfner of NavPoint Real Estate Group handled the transaction for the seller RJ at MMR, LLC. The buyer, Foothills Property Group LLC, was represented by Chris Student, Justin Brockman and Chris Student of Brockman Group. This transaction successfully closed in June 2020.

“We had multiple offers on this well-located O’Reilly’s asset from the day we went to market. With nearly 18 years of term remaining, the underlying publicly traded credit and the fantastic Markets at Mesa Ridge location we could have sold this asset to multiple buyers,”commented Matt Call of NavPoint Real Estate Group.

Located just south of metro Colorado Springs, the property features excellent access to Interstate 25 and close proximity to Fort Carson, the primary employer in the Fountain area. The property is surrounded by an increasing residential population and offers strong retail growth within the trade area.

Photo courtesy of NavPoint

 

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