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Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the fee-simple interest in a single-tenant CarLotz car dealership in Denver, CO (the “Property”), featuring a brand new 15-year absolute NNN lease with 10% increases every 5 years, and three, five-year renewal options. CarLotz (the “Tenant”) is a modern car dealership platform that recently went public via IPO in Q4 2020 with the goal to rapidly expand its footprint across the United States to reach $1B in Revenue by 2025. The Property has been recently repositioned to the CarLotz dealership standards, becoming the brand’s first and only location to open in Colorado, benefitting from incredible underlying real estate in the growing Denver MSA on a large 4.6-acre parcel in one of the metro’s most active car dealership and retail corridors. The Property is located just 10 miles southwest of Denver’s CBD, with outstanding surrounding population density in addition to national anchoring retailers such as Costco, Walmart, Whole Foods, and other flagship car dealerships immediately neighboring the Property.
This Offering represents an opportunity to own a single-tenant CarLotz with incredible real estate fundamentals, providing secure and passive long-term income from an absolute NNN lease with 15 years of remaining primary term and attractive 10% increases every five years. The Tenant is one of the fastest-growing car dealership concepts in the country, with intentions to capitalize on their recent IPO to expand their national footprint.
- 15-Year Absolute NNN lease with 10% increases every five years
- Impressive tenancy from one of the fastest-growing auto dealership concepts in the country
- CarLotz recently went public via IPO
- Infill, 4.6-acre lot in a primary retail corridor in Denver, CO
- Denver MSA has seen 21.2% population growth since 2010
- Neighboring tenants include Costco, Walmart, and Sam's Club
- Over 50,000 VPD at the intersection