PINNACLE ANNOUNCES SALE OF A NET LEASED SUBWAY BUILDING IN WESTMINSTER, CO
Denver, CO – February 27, 2019 – Justin Krieger, Principal at Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of a single tenant net leased retail property occupied by Subway located at 9987 Wadsworth Parkway in Westminster, Colorado. The building has a drive-thru and is located in a King Soopers-anchored shopping center. The property sold for $1,049,000 on February 19, 2019 in an all cash deal. Justin Krieger represented the buyer, a local investor who was in a 1031 exchange. The seller was located out-of-state and was represented by an out-of-state broker. Subway has occupied the building since it was built approximately 25 years ago and recently extended their lease. The property traded at approximately a 5.75% cap rate.
“Inventory for single tenant net leased properties occupied by national credit tenants like Subway in metro Denver is very low, especially around the $1,000,000 price point. My client was very excited to buy this deal, and we had to compete with multiple offers right off the bat.” said Krieger.
For more information on this sale please contact Justin Krieger.
