Initial Lease Term: 20 Years
Lease Term Remaining: 15+ Years
Lease Type: Absolute NNN Lease
Rent Commencement: 5/1/2020
Expiration Date: 4/30/2040
Roof & Structure: Tenant
Rent Increases: 10% Every 5 Years
Options: 4 x 5-Year
Guarantor: Mavis Tire Express Services Intermediate Corp.
ABSOLUTE NNN LEASE
15+ years remain on an absolute NNN lease with no landlord responsibilities. The rent is scheduled to increase by 10% every 5 years. Also, the tenant has four five-year renewal options.
2020 CONSTRUCTION
State-of-the-art 4,948 SF auto repair facility sitting on .94 acres with 8 service bays.
CORPORATE GUARANTY
Lease is backed by EOC, which operates over 1200 units across more than 30 States.
Their brands include Mavis, Express Oil Change and Brakes Plus.
ADJACENT TO DOMINATE KING SOOPERS MARKETPLACE ANCHORED REUNION MARKETPLACE
Located with frontage on 104th (20,400+ VPD), the property also neighbors the fourth most visited King Soopers Marketplace in the state of Colorado. Reunion Marketplace’s intersection, including the subject property contains 326k SF of retail with national retailers like Starbucks, McDonalds, KFC, Panda Express, Dutch Bros, Sherwin Williams, Taco Bell, Wendy’s, Popeyes, 7-Eleven and more.
SIGNIFICANT RESIDENTIAL DEVELOPMENT
Reunion and the surrounding area is currently experiencing rapid growth fueled by residential developers. Apartment buildings like Noth Range Crossings, Aspen Hills apartment and the range at Reunion combine for 540 units just down the street. In addition, the property serves the Buffalo Mesa, Fonterra Village, Harvest Meadows and Foxton Village communities. 20 miles from downtown Denver, the residents of this high growth area rely on this center for their everyday needs.
IDEAL AND EXPANDING DEMOGRAPHICS
Reunion, a neighborhood of Commerce City has grown by 70% since 2010, making it one of Denver’s fastest growing suburbs. The average household income is $135,811 within 3 miles and the property is located just 9-miles from Denver International Airport in the path of rapid growth and development.