COLORADO SPRINGS, CO – Marcus & Millichap Real Estate Investment
Services, the nation’s largest real estate investment services firm, has retained the exclusive listing for a 128,065-square foot Sam’s Club (top left photo) in Colorado Springs. The listing price of $18 million represents $141 per square foot.
Garrette Matlock (middle right photo) a senior vice president in the firm’s Denver office, is representing the seller.
“Sam’s Club is currently paying $9.93 per square foot on an absolute triple-net lease with six five-year options and a $0.50 per square foot increase every five years,” says Matlock. “The store serves as an anchor to Woodmen Commons, a market-dominant power center.”
The property is located at 1850 East Woodman Road at the intersection of East Woodmen Road and North Academy Boulevard, south of Interstate 25 in northern Colorado Springs.
Academy Boulevard is one of the busiest streets in Colorado Springs and the intersection of North Academy Boulevard and East Woodmen Road, with traffic counts of 90,500 cars per day, is the third-busiest intersection in the city. The property has great visibility from the recently constructed overpass at Woodmen Road and Academy Boulevard and there is a signalized entrance directly in front of the store.
Sam’s Club is being offered by the original owners who developed the property in 1998. A gasoline and ATM pad site provides an additional $30,000 in annual rent.
Colorado Springs is the county seat and the most populous city in El Paso County, Colo., which is the largest county in the state. El Paso County’s population is greater than 620,000 and has grown more than 20 percent in the last 10 years.
The average annual income within three miles of the property is $87,815.
Contact: Stacey Corso, Public Relations Manager, (925) 953-1716
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