Initial Lease Term: 20 Years
Rent Commencement: 3/22/2019
Expiration Date: 3/31/2039
Lease Term Remaining: 14+ Years
Lease Type: Absolute Triple Net (NNN)
Roof & Structure: Tenant
Rent Increases: 10% Every 5 Years
Options: 4 x 5-Year
Lease Guarantor: Twin Star Energy, LLC (32-Units)
ROFR: Yes, 10 Days
LONG TERM ABSOLUTE TRIPLE-NET LEASE
14+ Years Remaining on an original 20 year absolute triple-net lease in affluent suburb of the Denver MSA. The lease features 10% rental increases every five years and 4 x 5-year options.
FEE SIMPLE GAS STATION - *BONUS DEPRECIATION
The lease is corporately guaranteed by Twin Star Energy, a local Colorado operator of over 70 Phillips 66, Sinclair, 7-Eleven, and Jenny’s locations. Twin Star Energy was formed in 2013 as a partnership between Phillips 66 and K&G Petroleum to enhance the growth of the fuel brand. Originally operated a Phillips 66, the property was re-branded to a Sinclair gas station. The property also applies for bonus depreciation which will be reduced to 40% on January 1st, 2025.
*Consult tax advisor for benefits
SYNERGISTIC NATIONAL RETAILERS NEAR SUBJECT PROPERTY
The subject property is adjacent to the Shops at Jefferson Village, a Safeway & Kohl’s dual anchored shopping center that saw over 2.4 million visits in the last twelve months. Additional nearby national retailers include Chick-Fil-A, Texas Roadhouse, PetSmart, Brakes Plus, Ace Hardware, Planet Fitness, and many more.
LOCATED ALONG HEAVILY TRAFFICKED CORRIDOR IN DENVER MSA
The subject property is strategically positioned off C-470’s exit with Kipling Parkway, a major intersection of Denver’s western suburbs. The intersection sees over 96,000 VPD as it is a major route to the foothills of the Rocky Mountains and a popular route for skiers and campers alike.