Arapahoe County
Property Location: Vic. northwest corner S. Parker Road & E. Arapahoe Road, Centennial
Property Description: Vacant land, proposed 3,706-sf “Raising Cane’s Restaurant”
Land Size: 66,549 sf
Sales Price: $2.06M, or $30.95 psf
Reception No.: D7042297
Grantor: Arapark LLC c/o Kelmore Development, Bob Kountz, 303-779-1800
Grantee: National Retail Properties LP, Orlando, FL, Chris P. Tessitore, EVP
Closing Date: 4/12
Financing: Cash
Comments: The buyer facilitated a lease with Raising Cane’s Chicken restaurant for 15 years, with four five-year options. It will complete a build-to-suit for the tenant. The listing broker was Tami Lord at SRS Real Estate Partners, 303-390-5244. The buyer’s broker was Kyle Underwood at Legend Retail Group, 720-529-2886. Brad Sanders is listed as president of Raising Cane’s Restaurants LLC. Raising Cane’s facilitated a 15-year lease on a build-to-suit with the property owner at 18200 E. Cottonwood Drive in Parker; it purchased a freestanding former “Jack-in-the-Box” restaurant in April 2017 in Highlands Ranch and a site in Castle Rock at 5012 Founders Parkway for $900,000. its prototype is a 3,706-sf restaurant specializing in chicken fingers. Raising Cane’s new headquarters is Plano, Texas, with Brad Sanders as director of operations, 972-769-3348.
Comp of the Day is provided by John V. Winslow, president of Winslow Property Consultants. Winslow has more than 40 years’ experience in commercial real estate. He can be reached at 720-612-7878 or Colprop2012@gmail.com.
