Chad Minor of Solid Investments Arranges Sale of Single Tenant Triple Net Leased BBVA Compass Bank in Arvada, CO
Chad Minor represented the Buyer in the transaction
Arvada, CO, April 13, 2017 (Newswire.com) - Chad Minor of Solid Investments, has completed the sale of a single tenant BBVA Compass Bank located at 6450 Indiana Street in Arvada, Colorado for $2,120,000.00.
Chad Minor represented the buyer, a family trust based in the southeast that was acquiring the property to complete a 1031 like-kind exchange. Mr. Minor recognized this was a great opportunity for an investor to acquire a quality long-term tenant in rare/irreplaceable location, with zero Landlord obligations, a long term leases and periodic rent increases. Chad Minor adds, “In order to complete the like-kind transaction in compliance with the IRS Code Section 1031 rules we had to diligently work with the seller to mutually come to terms for the betterment of the deal.”
The 6,357 square foot BBVA Compass Bank is strategically located within a Walmart Neighborhood Market anchored shopping center near the signalized, hard corner intersection of Indiana Street and W. 64th Avenue Blvd. Other tenants in the center include Qdoba, Wendy’s, AutoZone, Big O Tires, and more. The site is also in close proximity to other national/credit tenants that include ACE Hardware, Kohl’s, and Walgreens to name a few. The 5-mile trade area is supported by a dense population of approximately 139,793 with an affluent average household income of more than $95,000. In addition, the site benefits from being surrounded by industrial and manufacturing businesses with more than
60,000 employees in a 5-mile radius, greatly increasing consumer traffic in the area.
There was approx. 6 Yrs. and 3 months left on the lease. with 4 (5-year) option periods. The lease featured an 11% increase in 2018 and fair market value (FMV) increases at the beginning of each option period. The lease is Absolute NNN with zero landlord responsibilities. The branch has strong deposits over ($52M) and is situated on a large 1.56 acre parcel.
About Solid Investments
Solid Investments specializes in the sale of Triple Net (NNN) Commercial Investment Properties - where the Tenant is responsible for all property related expenses (taxes, insurance, maintenance & repairs). They work primarily with the buyer and assist with 1031 Exchanges, while providing a full professional service approach through every step of the buying process.
Solid Investments has sold over 155 NNN properties worth in excess of $360,000,000 since 2008.
For more information, visit www.solidinvestmentsfl.com
Source: Solid Investments
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