The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net leased Lazy Dog property located at 43 Centennial Blvd in Highlands Ranch, Colorado for $10,000,000.
The 8,415 square foot building is located off South Broadway (43,500 VPD) and within proximity to CO-470 (110,00 VPD). AMC Theaters, Wells Fargo, Outback Steakhouse, Goodwill, CrossFit, Ford, Valero, Red Robin, and many more. Located less than one-half mile north on Broadway is Littleton Adventist Hospital, a local care center with over 230 actively staffed beds. There are 244,351 people living within five miles of the property earning an average annual household income of $141,216.
Lazy Dog is an American casual dining restaurant chain that offers a kid-friendly atmosphere and a variety of dishes. As of February 2022, Lazy Dog operates 40 restaurants across eight states. They are owned and operated by Brentwood Associates, an established private equity group that specializes in leveraged buyouts. Since 1972 Brentwood has invested in more than 50 companies in several industries and has over $2 Billion in assets under management.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction who was a Midwest based real estate company. The buyer was a Colorado based real estate investor. This deal was presold on an off-market basis.
“Investors continue to search for e-commerce resistant tenants like Lazy Dog” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Casual dining restaurants have rebounded to pre-pandemic levels and have gained interest from real estate investors.”