Front Range CBRE Completes $32.6M in Retail Sales
A CBRE Capital Markets team has recently completed $32.6M in retail sales across the Front Range, the company said this week.
These properties are single-tenant, net-lease. According to CBRE’s Q4 2019 U.S. Net-Lease Investment Report, those property types saw investment volume reach $17.7B in 2019, which was up more than 24% from 2018.
Net-lease means that a tenant is responsible for other expenses excluding rent. That could be the property tax, insurance fees or maintenance cost of the building.
CBRE Capital Markets National Retail Partners Senior Vice President Matthew Henrichs said that more investor interest has grown for these assets because of their strong risk-adjusted returns. Additionally, he said that a lot of investors are targeting properties in “high-growth” secondary or tertiary markets, which includes Denver and the Front Range.
The retail properties are in a variety of locations, including Golden, Loveland and Lakewood, at 3760 Byrd Drive in Loveland, 651 16th St. in Golden, 1400 Colorado Mills Parkway in Lakewood and six in the Marketplace at Centerra in Loveland.
The team consists of Henrichs, Brad Lyons and Parker Brown. According to CBRE, it has completed 21 single-tenant, net-lease sales in the last nine months, totaling nearly $85M.