Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 1301 N Laburnum Avenue in Richmond, VA. This 7 Eleven is a Single Tenant Net Leased property built in 2019 with a brand new 15 Year Absolute Net Lease that sold for $6,500,000 ($1,889.53/SF) at a 5.20% Cap Rate. Elizabeth Morgan and Cody Stambaugh with Pinnacle Real Estate Advisors represented the Buyer in the transaction.
“We were pleased to represent the Buyer in the purchase of the 7 Eleven. The Buyer was in a 1031 Exchange and this was his up-leg in the transaction. My business partner, Cody Stambaugh and I were introduced to the Buyer three days before his 1031 identification deadline and worked diligently searching the U.S. market to find the perfect investment for him and his family. Our Buyer will make a higher return than most new construction 7 Eleven investments and he will enjoy collecting rent with zero responsibilities,” stated Liz Morgan, Senior Advisor with Pinnacle Real Estate.
For more information, please contact Liz Morgan or Cody Stambaugh at 303-962-9555 or e-mail at EMorgan@PinnacleREA.com CStambaugh@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 2019, Pinnacle Real Estate Advisors closed 272 transactions for a total of $608 million. To view a current list of our buildings for sale in Denver, visit: www.pinnaclerea.com/properties.
