OAKBROOK SHOPPING CENTER
311 E County Line Rd, Littleton, CO
100% Occupied Neighborhood Retail Center Shadow Anchored by 48k SF O'Reilly Super Hub Store in Affluent Southern Denver Suburb of Littleton, CO
7.06%
CAP
$7,800,000
PRICE
$256
PRICE/SF
INVESTMENT HIGHLIGHTS
OAKBROOK SHOPPING CENTER
- Offered Below Replacement Cost at $256/SF
- Upside opportunity to increase rents over hold period, current average in-place rents are $18.07/SF
- In centers over 20K SF and built prior to 2000 within a five-mile radius the average asking rent is $25.21/SF
- Just two of fifteen tenants have options to renew, both of these tenant’s options are at fair market value
- Thirteen of fifteen tenants occupy spaces below 3,000 SF. The average unit size of these tenants is 1,567 SF
- Nine of fifteen tenants have scheduled annual rent increases which results in an 8.51% increase in Scheduled Leased Income during the first three years of ownership
- Costco Wholesale has submitted plans to the City of Littleton for a new location less than a mile northwest of the subject property. Costco’s potential site is the 63-acre former Lumen Technologies campus. In addition to Costco, the developer has proposed 370-multi-family units.
