BROOMFIELD, CO, Sept. 2, 2008 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has retained the exclusive listing for a 35,000-square retail building leased to DSW (top right photo) in Broomfield.The listing price of $16.45 million represents $470 per square foot.
Marc Strauss, (middle left photo) a vice president investments in the Fort Lauderdale office and senior director of Marcus & Millichap’s Net Leased Properties Group, is representing the seller.
“This prop
erty provides an investor with an excellent opportunity to acquire a national brand-name retail store located near Denver that continues to perform well even as other retailers struggle with store closures and bankruptcies,” says Strauss.
“A leading U.S. specialty branded footwear retailer with locations in 37 states, DSW saw a year-over-year increase in sales, earning a net income of $11 million on net sales of $357.2 million for the second quarter.”
Located at 595 Flatiron Blvd., the DSW store is situated on a 3.3-acre lot at th
e entrance of the 1.5 million-square foot Flatiron Crossings Mall (bottom right photo) in the north metro area between Denver and Boulder.
The area surrounding the Flatiron Crossing Mall has excellent demographics including an average household income of more than $92,000 within a 3-mile radius.
Built in 2001, this DSW asset has nine years remaining on its original 15-year triple-net lease. A 10 percent base-rent increase is scheduled for 2012 and in each of the three 5-year option periods.
“This prop
erty provides an investor with an excellent opportunity to acquire a national brand-name retail store located near Denver that continues to perform well even as other retailers struggle with store closures and bankruptcies,” says Strauss.“A leading U.S. specialty branded footwear retailer with locations in 37 states, DSW saw a year-over-year increase in sales, earning a net income of $11 million on net sales of $357.2 million for the second quarter.”
Located at 595 Flatiron Blvd., the DSW store is situated on a 3.3-acre lot at th
e entrance of the 1.5 million-square foot Flatiron Crossings Mall (bottom right photo) in the north metro area between Denver and Boulder.The area surrounding the Flatiron Crossing Mall has excellent demographics including an average household income of more than $92,000 within a 3-mile radius.
Built in 2001, this DSW asset has nine years remaining on its original 15-year triple-net lease. A 10 percent base-rent increase is scheduled for 2012 and in each of the three 5-year option periods.
Press Contact: Stacey Corso, Communications Department, (925) 953-1716
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