“The high-profile, high traffic location made this asset an extremely lucrative investment. Plus you have strong brand presence with a new Dunkin Donuts and long-standing 7-Eleven which continues to show a strong operating history,” said Hoogesteger
Santa Monica, CA (PRWEB) August 27, 2015
Sands Investment Group has announced the sale of a 100 percent-occupied, triple net 7-Eleven and Shell Gas Station along with a Dunkin Donuts located in the premier gateway town of Silverthorne, CO. The $7,250,000 million transaction marked a significantly high price per square foot, at $1,500 psf, for this type of asset and in this region, reflecting the quality brand names and unique location desirability factors of the asset.
The seller, a private investor, was represented by Dan Hoogesteger and Andrew Chana of Sands Investment Group. The buyer, Silverthorne Investors, LLC, represented itself in the 1031 exchange transaction.
The trophy triple net retail asset is situated on 1.23 acres at Blue River Road / Hwy 9 off I-70, at the gateway to six world-class ski resort destinations including Breckenridge, Vail and Copper Mountain. The property includes major tenants 7-Eleven and Shell Gas and a Dunkin Donuts franchise. Dunkin Donuts signed a brand new NNN lease this year, making it the first location for the franchise in all of Summit County, CO.
“The high-profile, high traffic location made this asset an extremely lucrative investment. Plus you have strong brand presence with a new Dunkin Donuts and long-standing 7-Eleven which continues to show a strong operating history,” said Hoogesteger. “This was a highly complex transaction as there were really no comps that matched the high-profile location.”
According to Hoogesteger, the Blue River / Highway 9 intersection gets approximately 31,000 cars per day and the I-70 Interstate location sees approximately 41,000 cars per day.
“We had to really demonstrate the quality of the asset and the unique strength of the location to support the final price. Ultimately, our buyer was a local investor, who was familiar with and understood the destination quality of the area,” Hoogesteger added.
About Sands Investment Group: Sands Investment Group is a commercial real estate brokerage firm that specializes in the buying and selling of net lease properties for private investors and institutions across the United States. Since its founding in 2010, SIG has closed over 650 transactions worth more than $2.2 Billion in 45 states. Advisors with the company currently have over $300 million in active inventory. As the first boutique firm to offer a national listing platform while providing the proven track record of a large firm, Sands Investment Group has become one of the nation’s fastest growing net lease companies in the US. As a leader in the industry and the only to offer product-type specialization, the firm’s experience in net lease, retail, office and industrial transactions is unparalleled. Sands Investment Group has offices in Santa Monica, CA, Charleston, SC, Atlanta, GA, and Austin, TX. Learn more at http://www.signnn.com.