Property tours will be held by appointment only. Please contact the listing brokers to schedule a tour.Westland Town Center is a 326,608 square foot destination retail shopping center located along West Colfax Avenue, one of the main East/West thoroughfares for the Denver Metro, and the main retail corridor in Lakewood, CO. The Property is 92% leased, with Lowe’s Home Improvement making up nearly 50% of the in-place rental income. The Property benefits from durable income from Lowe’s Home Improvement’s occupancy and term into 2024, along with limited near term rollover, and a mix of national tenants, including Dollar Tree, Sally’s Beauty, H&R Block, Applebee’s, Catherine’s, Bank of the West, and Lowe’s.OFFERING HIGHLIGHTS* National Tenancy - Approximately 77% of the in-place rental income is comprised of national or credit tenants.* Strategic Location – The Property is well located along the main retail corridor for Lakewood within close proximity to a plethora of retail amenities that help draw customers from an expanded trade area. Retailers in the corridor include; King Soopers, Walmart, Home Depot, along with destination centers such as, the Denver West Village and the Colorado Mills Mall.* High Trafficked Location - Traffic counts along West Colfax Avenue exceed 34,000 vehicles daily, making it one of the most trafficked East/West surface streets in the area. The property also benefits from its close proximity to Interstate-70 and Highway-6 where the average daily traffic counts are approximately 91,000 and 100,000 respectively.* Excellent Submarket - The West Retail Submarket where the Property is located has a vacancy rate of only 3.4%, and the vacancy rate is almost negligible for contiguous retail spaces over 20,000 square feet.* Flexible Exit Strategy – The Property is divided into four separate parcels allowing an investor the flexibility to sell individual pad sites. Lowe’s Home Improvement, which is leased through 2024, and Bank of the West are each on their own parcel and restaurants Applebee’s and Kazoku Sushi are on another parcel.* Dense & Affluent Population - The population within a five mile radius of the property is over 291,000. In addition, the average household income within five miles is over $74,000, and is projected to increase to more than $86,000 by 2021. This property will be auctioned on Monday, April 24 - Wednesday, April 26 . The price displayed is the starting bid amount of $6,500,000. For information and to register to bid on this property, please visit Ten-X.com.
