Initial Lease Term: 15 Years
Rent Commencement: 5/9/2016
Expiration Date: 4/30/2035
Lease Term Remaining: 10 Years
Lease Type: Absolute NNN
Roof & Structure: Tenant
Rent Increases: Every 5 Years, CPI Min. 7.5% - Max. 12.5%
Options: 2 x 5-Year
Lease Guarantor: Corporate - Grease Monkey Intl, Inc.
ROFO: Yes, 30 Days
LONG-TERM NNN LEASE WITH ZERO LANDLORD RESPONSIBILITIES
10 years remaining on Absolute NNN lease. The lease is structured with favorable CPI increases every 5 years, ranging from a minimum of 7.50% to a maximum of 12.50%, serving as a continued hedge against inflation. The next increase occurs in May of 2028.
ESTABLISHED NATIONAL TENANT
Corporate Guarantee from Grease Monkey International, which operates 375 locations across the United States. Grease Monkey is part of Full-Speed Automotive’s 900+ location network.
DOMINANT RETAIL CORRIDOR
Excellent visibility along Washington Street, a dominant retail corridor in Thornton, CO (30,000 VPD). Situated just 10 miles north of Downtown Denver, the subject property is proximate to several national retailers, including Circle K, O’Reilly Auto Parts, McDonald’s, Walgreens, Wendy’s, Taco Bell, and more.
STRONG SURROUNDING DEMOGRAPHICS
Robust surrounding population of 148,000 residents within a 3-mile radius, and 316,000 residents within a 5-mile radius. The Average Household Income is $81,417 within a 3-mile radius, and $88,557 within a 5-mile radius
SIGNIFICANT ECONOMIC GROWTH & KEY POSITIONING
The redevelopment of the historic Thornton Shopping Center, located directly across from the subject property, has been a pivotal project aimed at revitalizing the immediate area. Thornton’s proximity to major highways, including I-25, I-70, E-470, and Hwy 36 provide businesses with easy access to a dense trade area and enhances retail visibility along key thoroughfares.