Single-tenant retail property in Fountain sells for $193 per sf
A single-tenant, triple-net leased property – part of the Markets at Mesa Ridge shopping center in Fountain – sold for $1.93 million.
The 10,000-square-foot Dollar Tree is located at 6955 Mesa Ridge Parkway, just south of Colorado Springs and in close proximity to Fountain’s primary employer – Fort Carson.
Constructed as a build-to-suit for Dollar Tree in 2016, the property is part of the Markets at Mesa Ridge shopping center, which is anchored by Safeway and includes tenants such as Chick-fil-A and Sonic. The center also offers “ample” parking.
“We had tremendous interest in this asset given the Dollar Tree credit, relatively new construction and seven-plus years of term remaining. The Markets at Mesa Ridge is a robust grocery–anchored retail area in Fountain and even with the current environment surrounding COVID-19, we were able to secure an exchange buyer and close in only 21 days,” said Matt Call of NavPoint Real Estate Group.
Call and Ian Elfner of NavPoint Real Estate Group handled the transaction for seller RJ at MMR LLC and local buyer Silverwood Investments LP.