October 11, 2018 – Matthew Nadler of Horvath & Tremblay has successfully completed the sale of the ground lease to Chase Bank in Littleton, Colorado. Horvath & Tremblay exclusively represented the seller and procured the buyer to close the transaction at a sale price of $1,550,000, a 5.67% cap rate.
The Chase Bank property was constructed in 2005 and contains a 4,168 square foot retail bank with 4-drive thru lanes and 18-parking spaces on a 0.77-acre lot. The Chase Bank ground lease has 7+ years remaining and four, 5-year renewal options. The lease calls for 10% rent increases every five years and at the start of each option period.
The Chase Bank is the only retail bank serving the Roxborough Park area of Littleton and is well-positioned at the entrance to a high-performing Safeway grocery store. The Property is located on a highly visible outparcel on a Safeway anchored shopping center along the primary roadway, N. Rampart Range Road, serving the Roxborough Park section of Littleton, Colorado. The Shopping Center serves as the commercial center for Roxborough Park’s residents. Additional prominent retailers in the immediate area include Safeway, Starbucks, Roxborough Liquors, Sonic Drive-In, Domino’s Pizza, Subway, Great Clips, the Douglas County Libraries and a U.S. Post Office.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.