Adams County
Property Location: 3905 E. 104th Ave., Thornton, “Rite Aid Pharmacy”
Property Description: 13,887-sf free-standing retail building, YOC 1998, masonry
Land Size: 1.7 acres
Sales Price: $3.54M, or $254.77 per sf
Reception No.: 2016000056567
Closing Date: 7/14
Grantor: Revesco (USA) Properties of Thornton LLLP,Rhys Duggan, president, 303-551-7750 or www.revescoproperties.com
Grantee: Angie Eun Jo, trustee of Angie Eun Jo Revocable Trust
Financing: $1.84M payable to Wells Fargo Bank NA, due 7-10-21
Comments: Drew Isaac of Marcus & Millichap listed the property. The lease commenced Dec. 11, 1998, and was executed by Thrifty Payless Inc. The lease expires Dec. 31, 2020. The tenant has options for eight renewal terms of five years each. The in-place cap rate was 6.6%. Brian Cuje is the EVP and involved in acquisitions and dispositions. The seller purchased this property in May 2015 for $3.1M, or a7.58% in-place cap rate.
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.
