Transactions Report for Week of 06/05/17
ARA Announces Sale of Fairview Apartments in Aurora
ARA a Newmark Company announced the sale of the Fairview Apartments, located at 14594 East Mississippi Avenue in Aurora, CO. The Apartment complex sold for $15,025,000, $150,250/unit.
Western Centers Announces Leases across the Denver Metro Area
Western Centers, Inc., one of Colorado’s leading private real estate investment and management companies. announced the following leases:
- Parker Car Care Partners, LLC leased 7,283 square feet of retail space at 1310 S. Parker Rd. Suite 1330-A in Denver to Four Seasons Outdoor Equipment.
- Village Center Partners, LLC leased 4,865 square feet of retail space at 2400 E. Bridge St. in Brighton to East Bridge Discount Liquor.
- Iliff Crossing Partners, LLC leased 853 square feet of retail space at 16851 E. Iliff Ave. in Aurora to Tobacco Station.
- Chambers Point, LLC leased 1,200 square feet of retail space at 1736 S. Chambers Rd. in Aurora to Martins Cleaners.
- Dartmouth Court, LLC leased 1,505 square feet of retail space at 105555 E. Dartmouth Ave. Suite 250, in Aurora to John S. K. Song.
PINNACLE ANNOUNCES THE SALE OF A 12-UNIT APARTMENT BUILDING IN WHEAT RIDGE
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of the 5995 West 29th Avenue. This 12-unit multifamily property was built in 1955. The property conveniently located off of Sheridan Boulevard and West 29th Avenue in Wheat Ridge. The property is made up of 1 spacious studio and 11 2bd/1ba units. The transaction closed on June 1, 2017 for $1,700,000 or $141,667 per unit.
Joe Hornstein and Scott Fetter with the Hornstein│Fetter Apartment Group represented both the buyer and seller in this transaction.
PINNACLE ANNOUNCES THE SALE OF A 16-UNIT APARTMENT BUILDING IN AURORA
Pinnacle Real Estate Advisors, LLC also completed the sale of the 9191 East 14th Avenue in Aurora, Colorado. This 16-unit multifamily property was built in 1958. The property is conveniently located between the Stapleton, Lowry and Fitzsimons major redevelopment areas. The property is made up of 16 units, including 1 1BD/1BA and 15 Studio apartments. The transaction closed on May 31, 2017 for $1,285,000 or $80,313 per unit.
“The Seller identified a property he wanted to pursue as a 1031 Exchange deal if he could get this property sold in relatively brief time,” said Fetter. “The Buyer is an experienced Aurora investor and actually happened to be in an exchange as well, so the stars aligned on this one. The day after we closed this transaction, the Seller closed his 1031 up leg.”
Scott Fetter and Joe Hornstein with the Hornstein│Fetter Apartment Group represented both the buyer and seller in this transaction.
PINNACLE ANNOUNCES THE SALE OF 7500 S GARTRELL ROAD
Pinnacle Real Estate Advisors, LLC also sold 7500 South Gartrell Road located in Aurora, CO. The 3,500 square foot retail building sold for $1,700,000 or $486 per square foot. Kevin Calame, Principal, represented the seller in the transaction.