Available For Sale - Retail

244,939 SF | Show Pricing $

AVAILABILITY DETAILS

Size
244,939 SF
Price/SF
Show Pricing $
Listing ID
SA387948
Notes
Cap Rate 6%

NOI $2,021,644

Building Size 244,939 sqft

Occupancy 96%

Year Built 1975



SRS Investment Properties Group is pleased to offer the opportunity to acquire the fee simple interest (land and building ownership) in Horizon Park, a 96% occupied, 244,939 SF regional shopping center located in Longmont, CO (Boulder MSA). Horizon Park is a grocery anchored center with major tenants including King Soopers

(subsidiary of Kroger and a dominant grocer in Colorado), Big Lots, Planet Fitness, Dollar Tree, Murdoch’s Ranch & Home Supply, and arc Thrift Stores. Big Lots and arc Thrift Stores recently executed new 10-year leases with rental increases. The center also features four freestanding outparcels: Noodles and Co., Pizza Hut, University of Colorado Health, and a King Soopers fuel station. In addition, Horizon Park has the potential for an additional three pad sites, offering an investor substantial upside through future development or ground leases. Horizon Park is offered free and clear, allowing a future investor to take advantage of today’s low interest rates.



Horizon Park is an e-commerce resistant grocery anchored center comprised of discount retailers, restaurants, and service tenants. This King Soopers location performs extremely well with sales at approximately $42.7 million ($856 PSF) for the most recent fiscal year. Additionally, Murdoch’s Ranch and Home Supply had sales of nearly $12.8 million ($293 PSF). King Soopers also recently extended their lease through May 2031 (11-year term), demonstrating their commitment to the site.



The subject property is ideally located along Main Street (36,100 VPD) between two signalized, hard corner intersections with multiple points of ingress/egress, providing ease and convenience for consumers. The site is also just off of State Highway 66 (27,500 VPD) with quick access to the on/off ramps. Furthermore, Horizon Park has multiple monument/pylon signs, providing increased visibility to the center.



The city of Longmont is just 36 miles outside of Denver and 19 miles away from Boulder, which gives residents the ability to conveniently access the major metropolitans. Longmont also houses major tech firms including Seagate ($10.7 billion in revenue), DigitalGlobe ($702 million in revenue), Micron Technology ($20.3 billion in revenue), Xilinx and more, demonstrating that Longmont (Gig City) is an up and coming tech/start-up hub with its citywide symmetrical gigabit internet service (without data caps). The 5-mile trade area is supported by a dense population of nearly 101,000 residents with an affluent average household income of over $99,800.
Uses
Retail

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Pat Kent, SRS National Net Lease Group