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10038 W Remington AveLittleton, CO 80127
Sinclair
Asset ClassRetail
Deal Size$3.15 M
Year Built: 2000Cap Rate: 5.75%Retail SF: 3,353Access Data Room
overview of deal

Overview

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

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Investment Highlights

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.

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10038 W Remington AveLittleton, CO 80127
Safeway

Sales Team

Drew IsaacSenior Managing Director Investments(303) 328-2048drew.isaac@marcusmillichap.com
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