Larry Miller Nissan has entered into a long-term ground lease for a 7.3 acre site of undeveloped land and discussions are currently underway with Douglas County for a new Nissan Sales and Services location.
“We are hoping to turn the current vacant property at the northeast corner of Lucent Boulevard and Colorado 470 into a premier Nissan location,” said Jay Francis, executive vice president for the Larry H. Miller Group of Companies.
The parcel sits between Lucent Boulevard and Schomp BMW of Highlands Ranch and is located directly east of Mike Ward Infiniti. A major factor in selecting this location was the property frontage along 470 which provides high visibility and exposure with substantial traffic counts.
The final location decision for the dealership was made after careful consideration of site options all along the 470 corridor. Highlights of the site include significant exposure at a high traffic space adjacent to the interstate along with a signalized intersection at the entrance.
“This is a great opportunity for Larry Miller Nissan to expand their already strong presence in the Denver Market-at a location that is the premier site for auto dealers in the Denver Metro area,” says Wade Fletcher of the Newmark Capital Group. Fletcher continued by saying, “the new dealership represents a ‘mini-redevelopment’ project for the area, turning an underutilized, vacant land parcel into a significant sales tax generator.”
When completed, the Nissan dealership will be just over 46,000 square feet and will employ more than 50 people.
Tony Schnurr, president of Larry H. Miller Automotive stated, “Clearly we have a location that is extremely popular and easy to access, and one that would be very difficult to duplicate in the area. This relocation and the facility improvements we are making should be a sign of our strong commitment to the surrounding community and our investment in future success.”
Stephen J. Roesinger, Senior Managing Director, and Wade Fletcher of Newmark Capital Group structured and negotiated the long-term ground lease on behalf of Larry Miller Nissan Denver.
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