Fort Lupton, CO – [December 30, 2021] – Blue West Capital has completed the sale of a new construction single tenant net leased 7-Eleven property located at 641 14th Street in Fort Lupton, CO. The property generated numerous offers and sold for 100% of the asking price. This is the 13th gas station sold by Blue West Capital in the past 12 months.
Brandon Gayeski and Robert Edwards, of Blue West Capital, exclusively represented the repeat seller in the transaction and procured the buyer. The Seller was a national developer, and the buyer was an east coast based private investor.
The 4,650 square foot 7-Eleven property opened in October 2021 and features a long-term net lease. The lease is corporately guaranteed by 7-Eleven which is an investment grade rated company (S&P: AA-). The property is strategically positioned on a large 2.34-acre parcel on the heavily trafficked signalized intersection of Highway 85 & 14th Street.
This location is one of Colorado’s first 7-Elevens featuring a Laredo Taco restaurant. The property features twenty pumping stations, including three high-flow diesel bays. The property is located 25 miles north of Downtown Denver. Many single tenant convenience store properties, such as the 7-Eleven in Fort Lupton, qualify for 100% Bonus Depreciation. This unique tax incentive allows real estate investors to depreciate a significant percentage of their acquisition price in year one.
“Investors who purchase gas stations or convenience stores that have significant retail gasoline operations may be able to achieve significant tax deferral. By purchasing a qualified C-Store, the investor generally is eligible for 100% bonus depreciation on the entire purchase price, excluding any portion allocable to land or goodwill. These bonus depreciation deductions then can be used to offset the investor’s income or gains from other sources, resulting in the desired tax deferral,” stated Robert Edwards.
“We started working on this deal in 2020 when we assisted the developer in acquiring the land. To see this development come full circle, and to help the developer sell the property for a record price, is a nice way to close out 2021,” said Brandon Gayeski.