Broadway & Dry Creek, Littleton, CO
CAP Rate: 5.25%
Net Operating Income: $247,641
This is a unique opportunity to acquire a newly constructed, high quality, multi-tenant retail asset subject to new long term net leases with extremely high quality tenants. Starbucks Coffee and Custom Cellular, an AT&T authorized retailer, have signed new 10 year NNN leases. Pacific Dental has signed a net lease with minimal landlord obligations and a corporate guarantee. This is a trophy asset in a highly populated and rapidly growing area with high income demographics. All of the leases call for increases and options beyond the initial term. The asset is part of the larger Littleton Village which features a strong mix of retailers as well as multifamily and single family housing, and entertainment.
Littleton Village is located in a land constrained submarket. Littleton Village is an area with limited development opportunities. Due to the maturity of the area, coupled with the natural barriers of the mountains to the West, there are few comparable development opportunities.
In close proximity to major employment to major employment generators | Littleton Village is strategically located within close proximity to numerous employment generators. A few of the more notable employment centers include Littleton Adventist Hospital, the Denver Technology Center (DTC), and Downtown Denver’s Central Business District. These districts fuel over 145,000 jobs into the state’s economy. The top industries within downtown Denver include technological operations in media, communications, financial services, sales, engineering, and professional firms