Rogue Valley Mall - Sale
1600 N Riverside Ave, Medford, OR, 97501-4652, US
59,860 m²
Asset Description
Jones Lang LaSalle Americas, Inc. (“JLL”), is pleased to exclusively offer for sale the fee-simple interest in Les Schwab located at 3281 Centennial Blvd in Colorado Springs, Colorado. The building will be leased-back on a 20-year lease secured by Les Schwab corporate upon sale.
Les Schwab is the 4th largest independent tire dealer in the country and has a nationwide presence with 500+ locations, providing a strong credit base to the investment. The 9,534 SF building sits on 1.36 acres and is strategically situated on a signalized intersection shared from King Sooper's (Kroger), a grocer which drives 1.3+ million visits annually. The site also benefits from its proximity to I-25, which carries 150,000 VPD in the area.
In the commercial corridor, there has been several new retail and residential developments. Within a one-mile radius, there has been over 1,000 multifamily units delivered in the last two years. Within that same radius, the population growth rate in the last 5 years was 6.1x the national average, and the greater Colorado Springs metro has seen immense growth post-COVID.
Please see OM for more information.
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Attributes
Asking price
€6,414,000
Cap rate
5%
Building area gross
886 m²
Occupancy
100%
Land area gross
0.55 ha
Remaining lease term
20 years
Year built
2025
Media
Investment Highlights
20-YEAR CORPORATE SALE-LEASEBACK WITH LES SCHWAB
• Les Schwab currently owns the site and will leaseback the property on a 20-year absolute NNN lease
• Les Schwab corporate will guarantee the lease, which has contractual rental increases of 10% every five years
GROCERY SHADOW ANCHOR IN COMMERCIAL CORRIDOR
• The property shares an intersection with King Soopers (Kroger), which drives 1.3 million visits annually and is Colorado’s dominant grocer
• Centennial Blvd has several other nearby traffic drivers including a VA clinic and newly-developed retail such as Starbucks and Super Star Car Wash
NEW CONSTRUCTION IN SUBMARKET TEEMING WITH DEVELOPMENT
• The building was constructed in 2025 according to Les Schwab’s specifications
• Within a one-mile radius, there has been 1,000+ units of multifamily delivered in just the last 2 years
SIGNALIZED INTERSECTION AND HIGHWAY ACCESS
• The property sits on a signalized hard corner and benefits from excellent visibility from several sides
• The site is also in close proximity to I-29, which carries over 150,000 VPD in the area
Contact brokers
Les Schwab - Colorado Springs, CO (0 Properties)
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Last updated
7 Mar 2025
