LONE TREE, Colo. – November 14, 2013 – (RealEstateRama) — Lee & Associates North-San Diego County, part of the national brokerage firm of Lee & Associates, completed the $17.6 million sale of a Sam’s Club, located at 7817 Park Meadows Drive, Lone Tree, Colo. The property, a 129,715 square-foot, single tenant retail outlet, currently has six years remaining on its original 25-year Triple (NNN) Net lease with ten, five-year options to renew.
Ryan Barr, Ryan Bennett and Kyle Bowlsby of Lee & Associates-North San Diego, in conjunction with Barr & Bennett Net Leased Investments, represented the seller, Sam’s Den, LLC.
“We were able to achieve an extremely low cap rate, 6.25 percent, for a property with only six years remaining on a flat lease, including options. Most buyers approached the property and attempted to transact 25-75 bps higher. Needless to say, the seller was very pleased,” said Barr, of Lee & Associates-North San Diego, who’s also with Barr & Bennett Net Leased Investments. The property will remain a Sam’s Club.
Barr & Bennett Net Leased Investments, of Lee & Associates-North San Diego, specialize in the acquisition and disposition of single tenant net leased assets nationwide.
About Lee & Associates
Celebrating 34 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the nation, with 49 locations across the nation including California, Arizona, Georgia, Idaho, Illinois, Indianapolis, Kansas, Maryland, Michigan, Missouri, New Jersey, Nevada, South Carolina, Texas and Wisconsin. With a roster of more than 730 expert brokers, Lee & Associates provides a wide range of specialized commercial real estate services. Additional information is available at www.lee-associates.com.