Denver – Nexus Commercial Realty, LLC, has closed on the sale of Cherry Creek Square, a 56-unit, 39,600 sq. ft. building for the sale price of $7,510,000. Jason Koch of Nexus represented the Seller, PFPS, LLC, and the buyer, 9900 East Florida LLC.
This asset has an excellent unit mix of 40 one bedroom/1 bathroom and 16 two-bedroom/1-bathroom units. Most of the units have been tastefully updated, while the building itself has newer windows, exterior paint, pitched roofs, and an updated boiler system along with 75 off-street parking spaces.
The building has an attractive location on E. Florida Avenue between S. Havana Street and S. Dayton Street in the Cherry Creek school district.
The Buyer plans on making improvements to the landscaping and further improving the quality of the units with belief that the area can produce stronger rents. The Seller was able to realize his gained equity and pursue larger assets.
Please call or email today to find out how we are different than the average apartment advisors.
About Nexus Commercial Realty, LLC:
Nexus is a full-service firm for the Multi-Family commercial real estate industry in Denver. Our firm specializes in acquisitions, dispositions, seller rep, buyer rep, and advisory services. We provide high caliber services to owners and investors delivered with the focused attention only a privately-owned firm can offer. After operating successfully for over 25 years, our Colorado roots are deep because our market experience in commercial real estate is firsthand. This positions us to help clients reach their business and financial goals while ensuring their best interests are always protected. As a team, we might not appear as your typical brokerage – and that’s by design. Even though we’ve been in the industry for more than two decades, we are as enthusiastic, energetic and collaborative as when we first started. At Nexus, there is no internal competition because our purpose is aligned. This reduces internal competition and makes us more productive on a per broker/agent basis. We love coming to work every day because we love helping our clients achieve their goals. You might find us in jeans instead of slacks, outside meeting people instead of in our office. We do things differently because we are different.
For more information, please visit www.nexus-cr.com.
