CBRE National Retail Partners – Mountain is pleased to offer the opportunity to acquire 20th & Market (the “Property”), a historic retail investment property in the heart of Denver’s Lower Downtown (LoDo) Historic District. The two building, 23,253 SF Property is 100% leased to HB Hospitality, LLC (dba Toni Tenderonis, Jaguar Room, Con Safos, El Patio and Agua Bendita) and features a NNN lease, stabilized in-place cash flow, contractual rent growth and favorable percentage rent upside.
Located in central Downtown Denver’s sought-after LoDo Historic District, the Property benefits from its dense infill location with synergy and cross-over traffic from adjacent retailer, business and entertainment venues including Coors Field, home of the Colorado Rockies Major League baseball team. The trade area within a 1-mile radius offers high-density demographics with a population of over 46,134, average household incomes of over $145,063 and a daytime population of 143,897, driving significant consumer traffic to the Property.
Ideally positioned at the dominant intersection of Market Street and 20th Street with exposure to over 28,500 vehicles per day. 20th & Market meets all the necessary fundamentals of a viable retail destination and benefits from the premier visibility as well as pedestrian and vehicle traffic volumes. The location and strong tenancy combine to make this a very attractive offering for passive investors looking for secured cash flow with strong real estate fundamentals.
20th & Market is being offered free and clear and on an as-is, where-is basis.