Café Rio - Colorado Springs, CO

1560 Briargate Blvd, Colorado Springs, CO, 80920, US

Asset description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the fee simple interest in the Café Rio located at 1560 Briargate Blvd in Colorado Springs, Colorado (“Property” or “Asset”). Café Rio is operating on a 12-year absolute NNN lease with ±11.6 years of primary lease term remaining, 10.0% rent escalations every 5-years, two, five-year renewal options and zero landlord responsibilities.

Renowned as one of the busiest, non-interstate locations in the region, Café Rio is positioned just off the intersection of Briargate Blvd and N Academy Blvd, less than a mile south of Interstate 25 with direct accessibility to 195,000 vehicles per day. Café Rio is positioned as an outparcel to Chapel Hills Mall, a 562,000+ square foot enclosed shopping mall.

...

Attributes

Asking price

₱114,347,000

Cap rate

6.85%

NOI

₱7,831,000

WAULT

11.6 years

Building area net

308 sm

Land area gross

0.4 ha

Media

Investment highlights

Operating on an absolute NNN lease with ±11.6 years of primary lease term remaining
Outparcel to Chapel Hills Mall and adjacent to Chapel Hills West & East with 8.7 million visits annually
Cafe Rio has grown its footprint by over 50% over the past 5 years
Strong demand characteristics driven by 5-mile AHHI of $131K
Colorado Springs is the #1 fastest growing county in CO expected to grow to 1 million people by 2050
Dense commercial corridor with direct visibility to 195,000 VPD