Broker of Record Kyle Matthews License No. 100070704 (CO) Matthews Retail Group, Inc. 841 Apollo Street. Suite 150, El Segundo, CA 90245 3109195757
Ideal 1031 Candidate – There are still nearly 10 years remaining on a corporate lease.
Extremely Strong Operating History – Walgreens has been operating at this location for 16 years already and has consistently been performing at a high level – contact broker for details
Costco and Target Anchored Retail Hub – This store is next to a 157,000+ SF Costco Wholesale, near a new Sprouts anchored shopping center, across from a Hobby Lobby anchored center, and a only few minutes from both Carmax and Target. Other national tenants in the immediate vicinity include: HomeGoods, O’Reilly Auto Parts, Kum & Go, 7-Eleven, Longhorn Steakhouse and many more.
Robust Traffic Counts – This store is sandwiched between two extremely busy intersections. To the west is Powers Blvd and Barnes Rd that sees an average traffic count of 89,000+ cars per day and to the east is Barnes Rd and Tutt Blvd that sees 43,000+ cars combined.
Booming Economy – Driven by the revitalization of downtown Colorado Springs, it is expected to surpass Denver as the largest city in Colorado by 2050. It’s labeled as “Fastest Growing City for Millennials” by Brookings Instution, “No. 1 Most Desirable Place to Live” by US News and World Report, and “Top 25 Happiest Cities” by National Geographic.
Ideal Market – The 1,3, and 5-mile radius is dense with 15k, 123k, and 246k residents respectively who have an average household income between ± $85,000 to ± $93,000.
Double Digit Growth – Since 2010, the 1,3, and 5-mile radius has grown by an average of ±16.8% and expected to grow another ±8% over the next 5 years.
2nd Largest City – Colorado Springs is the 2nd largest city in the entire state of Colorado behind only Denver
Constant Development – The 60,000 SF $75MM U.S Olympic Museum and Hall of Fame will be completed this year; Fairfield Inn Suites is completing a hotel just south of this store on Tutt Blvd; and Colorado Springs Chamber of Commerce likely issued around 4,000 building permits last year and expect a similar number this year.
Large Signalized Corner – Walgreens sits on a 1.8-acre signalized corner parcel that benefits from Kum & Go and O’Reilly Auto Parts on the other corners, offering good re-purpose or re-development factors in the future.