O’Reilly Auto Parts in Fountain trades hands for $2.4 million

Foothills Property Group LLC paid $2.4 million, or $335.66 per square foot, for the 7,150-sf O’Reilly Auto Parts at 7985 Fountain Mesa Road.

A single-tenant, net-leased property at the Markets at Mesa Ridge shopping center sold – the second such sale at the Fountain retail center in recent weeks.

Foothills Property Group LLC paid $2.4 million, or $335.66 per square foot, for the 7,150-sf O’Reilly Auto Parts at 7985 Fountain Mesa Road.

“We had multiple offers on this well-located O’Reilly’s asset from the day we went to market. With nearly 18 years of term remaining, the underlying publicly traded credit and the fantastic Markets at Mesa Ridge location we could have sold this asset to multiple buyers,” commented Matt Call of NavPoint Real Estate Group.

Call, alongside Ian Elfner of NavPoint Real Estate Group, represented the seller, RJ at MMR LLC. The buyer was represented by Chris Student of the Brockman Group.

Constructed in 2017, O’Reilly Auto Parts is part of the Markets at Mesa Ridge, which is anchored by Safeway and features several fast-casual dining options like Chick-fil-A and Sonic.

Markets at Mesa Ridge, just south of Colorado Springs and in close proximity to Fountain’s primary employer – Fort Carson – also offers ample parking and is surrounded by an increasing residential population.

Multiple offers at or near full asking price were received on the O’Reilly Auto Parts.

The sale of the O’Reilly Auto Parts comes on the heels of the $1.93 million sale of the Dollar Tree at the Markets at Mesa Ridge. RJ at MMR LLC also sold that retail asset – one of several buildings it developed at the retail center.

NavPoint Real Estate Group handled the sale of the Dollar Tree and is listing one small pad, adjacent to Dollar Tree.

Featured in the July 1-14, 2020, issue of CREJ

Jennifer Hayes has been an editor with the CREJ since 2000. Jennifer covers multifamily and industrial news in the Denver metro area plus all property types in Colorado Springs, Southern Colorado, mountain towns and the Western Slope. She also handles High Fives news for the paper and is editor of the Health Care & Senior…