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2896 North AveGrand Junction, CO 81501
Phillips 66 & Alta Convenience
Asset ClassRetail
Deal Size$1.82 M
Cap Rate: 6.5%Retail SF: 3,649Access Data Room
5 Years Left on Abs. NNN Lease with Options | Located in Largest Retail Hub Between Denver & Salt Lake City
overview of deal

Overview

• Five years remaining on Absolute Triple-Net Lease with four five-year options and zero landlord responsibilities.

• The lease is corporately guaranteed by Alta Convenience, a regional operator of convenience stores with 150+ locations throughout the Mountain West, Southwest, and Midwest.

• In 2021, Alta Convenience was acquired by a joint venture between Fortress Investment Group and a subsidiary of Phillips 66

• Signalized hard corner real estate at the intersection of North Ave and 29 Rd, seeing a combined 37,500 vehicles per day

• Grand Junction, Colorado is the largest hub of retail/business between Denver and Salt Lake City. The city sees over 1 million visitors annually, generating $140 million in annual revenue.

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2896 North AveGrand Junction, CO 81501
I-70 Business Access Loop (1 Mile from Subject Property)
Colorado Mesa University (2.5 Miles from Subject Property)
Grand Junction Regional Airport (5.3 Miles from Subject Property)
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Listing provided by Revere CRE