New 20-Year Absolute Triple-Net Lease – Zero Landlord Responsibilities
- Service Street’s lease commenced on June 12th, 2024, and runs through 2044 before the first option.
- The lease features 10% fixed rent increases every five years.
Pad Site to King Soopers Grocery Anchored Center
- New construction building located along the ingress & egress point for shopping center.
- King Soopers, Colorado’s dominate grocer, anchors this 98.6% occupied shopping center.
- 74% of this center’s visits come from the 80108-zip code proving the center to be a neighborhood staple for Castle Pines residents.
Castle Pines is one of Colorado's Wealthiest Suburbs - $243K AHHI
- Residents within 3 miles of the property earn an average of household income of $243,352. The suburb ranks 3rd among Colorado’s most affluent neighborhoods.
- By 2028, the surrounding population is expected to grow by 10%. Denver’s southern suburbs are consistently the top choice for young families on the move.
Corporate Guaranty from Experienced Auto Operator
- Service Street is a subsidiary of Drive Automotive Services which operates multiple brands.
- Drive Automotive anticipates reaching 100+ locations in the next three years. The brand currently operates 41 locations.
- Service Street, located in CO, GA, TN, & TX, operates 25+ plus locations.