New 7-Eleven yields developer $1,022 per square foot

740
740
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Denver County

Address or Location: 725 Kalamath St., Denver

Improvements: 2,681-sf 7-Eleven store, YOC 2017, brick with gas pumps

Land Size: 26,250 sf

Date of Recording: 12/29

Reception No.: 2017169834

Price: $2.74M, or $1,022 psf

Grantor: BTS Kalamath SE LLC, Cadence Capital, Lucy Dinneen, mgr.

Grantee: Carr Street LLC, Dr. Gary Ghiselli, 303-697-7463

Comments: New 7-Eleven store sold by Chris Wiedenmayer & Peter Peluso of Legend Partners, 15-year term with four-five-year options. This property sold on a 5% in-place cap rate. Seven-Eleven is a publicly traded corporation. The seller’s phone number is 720-493-5100. Bill Rothacker Sr. (seller) founded Cadence Capital in 2001 after a successful career with Trammell Crow. The buyer is a prominent back surgeon in the Denver area and was looking for a secure, long-term investment.

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 [email protected]

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