Denver, CO –September 6, 2019 – Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of Country Meadows Square, a multi-tenant retail complex built in 2018 for $7,700,000 ($319.70/SF), located at 19539 Hess Rd, in Parker, CO. Jeff Johnson and Corey Sandberg, at Pinnacle Real Estate Advisors, LLC, represented the Buyer in the transaction.
“The completion of this transaction fulfills our client’s 1031-exchange from the disposition of a local apartment complex that had built up a large amount of equity for the Owner. In spite of the strong cash flow, the Seller was receiving a relatively low return on their equity. Additionally, with an older property, there was a lot of management responsibility and frequent maintenance issues. We were able to identify these issues and promoted a 1031-Exchange for the Owner to trade into a newly built multi-tenant retail asset with far fewer management and maintenance issues,” stated Jeff Johnson, Co-Founder and Principal of Pinnacle Real Estate Advisors. “Country Meadows is located in a high net worth and rapidly expanding area. With one vacancy remaining to be leased up, combined with below market in-place lease rates, our client inherits the ability to continue to add value. The core of the tenants are on long, NNN leases, which will equate to stable cash flow from this trophy retail asset,” stated Corey Sandberg, Associate Advisor at Pinnacle Real Estate Advisors.
For more information on this sale please contact Jeff Johnson or Corey Sandberg at 303-962-9556; 303-407-9784
or email: JJohnson@PinnacleREA.com; CSandberg@PinnacleREA.com
Pinnacle Real Estate Advisors
Pinnacle Real Estate Advisors is a full-service commercial real estate brokerage firm servicing clients globally who own commercial properties in the metro Denver area and throughout Colorado. Our expertise encompasses all commercial real estate property types. We have experienced advisors specializing in apartment building sales and acquisition; retail property sales, leasing and acquisition; office property sales, leasing, tenant representation, and acquisition; and industrial property sales, leasing and acquisition. The Pinnacle Experience™ is a unique approach that is focused on each client’s needs, delivering superior real estate guidance, proven market perspective and unmatched results. Pinnacle Real Estate Advisors combines market expertise with a Full Spectrum Marketing™ campaign that delivers innovative real estate solutions that are client-centric and relationship focused. In 2018, Pinnacle Real Estate Advisors closed 348 transactions for a total of $703 million. To view a current list of our buildings for sale in Denver, visit: www.pinnaclerea.com/properties.
