Property History
Faris Lee Investments is pleased to offer for sale the fee simple interest (land & building) in a freestanding, single tenant, absolute NNN leased, Carl’s Jr., located in Bennett, CO. The tenant, Carl’s Jr., recently, executed a new 20-year lease, demonstrating long-term commitment to the location. The lease features 10% increases throughout the initial term in Years 6, 11, & 16 and 10% rental increases at the beginning of each 4 (5-year) option periods, which generates steady NOI growth and hedges against inflation.
The subject property is strategically located just off Interstate-70 (21,620 vehicles per day - CoStar 2013) at the intersection of S. 1st Street/State Highway 79 and Silverheels Road. Interstate-70 is a major interstate highway linking the continental U.S. from Baltimore, MD to Cove Fort, UT. The I-70 provides a national transit corridor for consumer goods, agriculture, and personal travel thus increasing the average number of customers on a daily basis. The subject property is approximately 30 miles east of Denver and 15 miles east of Aurora. National tenants within close proximity include Loves Truck Stop, King Soopers, Starbucks, McDonald’s, Taco Bell, Subway and Tractor Supply Co. There are more than 10,000 permanent residents with an average household income higher than $81,000 within 10 miles of the subject property. Additionally, the trade area is supported by more than 4,000 daytime employees within a 10 mile radius.
INVESTMENT HIGHLIGHTS
- Absolute NNN Lease
- Long-term 20 year lease/ 10% rent increases every 5 years
- Personally guaranteed lease w/ strong net worth franchisee
- Nationally recognized tenant, CKE Restaurants, INC. - operating more than 3,500 U.S. locations under the Carl's JR. and Hardee's trade names
- Excellent location on I-70, State Highway 79
- Immediately adjacent to Interstate-70 (I-70) at state highway 79 (SH 79) offramp - 21,600 vehicles per day (CoStar 2013)
- Outparcel pad to dominant King Sooper grocery store/upper-tier performing store with strong year over year sales growth
- Pride of ownership / new 2016 construction with drive thru
- Strong customer draw from the adjacent love's travel stop
- Directly across the street from Bennett Crossing - a planned 292 acre mixed-use development featuring residential and commercial uses
- 56 acre planned residential development (part of 292 acre master development
- New hotel being built across the street from the subject property
*** Listed in Cooperation with CO Licensed Broker: Hill and Homes, LLC - #282321 ***
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