Justin Krieger, Principal at Pinnacle Real Estate Advisors, LLC, is pleased to announce the sale of a single tenant Firestone automotive property located at 1445 Jamboree Drive in Colorado Springs, Colorado. The property consists of a 6,600 SF building that is on a ground lease on a one acre site that sits in front of the Chapel Hills Mall. Firestone has occupied the property for approximately 32 years. The transaction closed on March 1, 2021 for $3,097,000 and went from contract to close in 30 days. Justin Krieger represented the buyer, a Denver-based partnership. The sellers, located in California, were represented by Phil Sambazis at Marcus & Millichap’s San Diego, California office.
“My buyers were extremely excited about the opportunity to own a well-located property occupied by a recession and pandemic-resistant national credit tenant on an absolute net ground lease, and we aggressively pursued it the first day it was marketed.”
For more information on this sale, please contact Justin Krieger.
