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Washington Plaza, Thornton, CO

Washington Plaza, Thornton, CO


Investment Summary

Price $4,729,000
Cap Rate 6.00%
NOI $283,692
Lease Term Various
Lease Type Various
Rental Increases Various
Year Built 2022
Building Size ±10,114 SF
Lot Size 1.21 acres (52,838 SF)
Status Available
Lead Brokers Vincent Aicale
Vice Chairman
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Vice Chairman
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Executive Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Investment Highlights

100% LEASED MULTI-TENANT ASSET TO THREE RAPIDLY GROWING NATIONWIDE BRANDS
» 100% leased multi-tenant “Amazon-proof” asset leased to Pacific Dental, Crumbl Cookies, and Humana
» Scheduled rental increases for all tenants provides a hedge against inflation
» Pacific Dental Services has been on the Inc. 5000 list of the fastest growing private companies in America 14 times and has grown to over 900 locations
» Humana (BBB+ credit rating, NYSE: “HUM”) ranked 41st on the Fortune 500 list in 2021, which made it the highest ranked company based in Kentucky
» Since opening its doors in 2017, Crumbl Cookies has expanded to over 600 bakeries in 47 states nationwide, making it the fastest-growing cookie company in the U.S.
» 2022 construction on a large parcel featuring ample parking and multiple access points, ideal for a multi-tenant asset

INFILL SETTING NEAR OUTSTANDING TRAFFIC DRIVERS
» High-visibility infill site near the signalized intersection of Washington Street and East 98th Avenue (combined 36,510 AADT)
» Prime location near Interstate 25, a major north-south thoroughfare serving as the main route through New Mexico, Colorado, and Wyoming (159,000 AADT)
» Surrounded by major national tenants such as Walmart Supercenter, Sam’s Club, The Home Depot, Lowe’s Home Improvement, Best Buy, Buffalo Wild Wings, Texas Roadhouse, Chick-fil-A, and many others
» Centrally located near Thornton’s largest community hubs and recreational attractions, including Rocky Mountain Arsenal National Wildlife Refuge (300,000+ annual visitors), Boondocks Food & Fun Northglenn, and Denver Premium Outlets, a LEED certified, open-air outlet (83 stores, 375,000 SF)

TROPHY LOCATION IN LARGE AND GROWING DENVER SUBURB
» 336,574 residents within a five-mile radius, creating an extremely large customer base for the site
» Average annual household income of $101,689 within five miles, with a projected 18% increase by 2027
» Projected large population and income increases within 1-, 3-, and 5-mile radii within the next five years poise Washington Plaza and Thornton for significant concurrent growth
» Located 10 miles from Denver’s central business district, the commercial core of Downtown Denver and home to 7,000+ residents

Property Description

» This multi-tenant asset is conveniently located near the signalized intersection of Washington Street and East 98th Avenue, with access to a combined 36,510 vehicles per day
» Prime location near Interstate 25, a major north-south thoroughfare serving as the main route through New Mexico, Colorado, and Wyoming (159,000 AADT)
» Located in a dense and growing retail corridor, the property is immediately surrounded by major national tenants such as Walmart Supercenter, Sam’s Club, The Home Depot, Lowe’s Home Improvement, Best Buy, Buffalo Wild Wings, Texas Roadhouse, Chick-fil-A, and many more
» The site is centrally located near Thornton’s largest community hubs and recreational attractions, including Rocky Mountain Arsenal National Wildlife Refuge (300,000+ annual visitors), Boondocks Food & Fun Northglenn, and Denver Premium Outlets, a LEED certified, open-air outlet (83 stores, 375,000 SF)
» 336,574 residents with an average annual household income of $101,689 live within five miles of the property, creating an extremely large and affluent customer base for the site
» The property is located 10 miles from Denver’s central business district, the commercial core of Downtown Denver and home to 7,000+ residents

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