Transactions Report Week Ending 07.20.18
Pinnacle Announces Sale of 1690 Yarrow Street
Pinnacle Real Estate Advisors, LLC announced the sale of 1690 Yarrow Street located in Lakewood. This unique sale included a 3,600-square-foot multifamily building plus a 900 square single-family home and traded hands for $1,095,000 ($243.33 per square foot). Principal JB Hochman and Associate Advisor Erik Toll represented the seller.
“The property was freshly renovated in 2016 and already achieving premium rents,” stated Toll. “Mom and pop investors seeking yield have been increasingly priced out of Central Denver. This asset represented an opportunity to capture immediate yield in an appreciating Jefferson County submarket.”
Pinnacle Announces Sale of Monroe Professional Building in Denver
Pinnacle announced the sale of 3570 E 12th Avenue in Denver. The 12,500-square-foot office building sold for $3,370,700 ($269.66 per square foot). Tom Ethington and Rob Edwards of The Edwards | Ethington Team represented the seller in the transaction, while Kevin Calame and Matt Lewallen of The Calame Lewallen Team represented the buyer.
At time of sale, Monroe Professional Building was nearly fully occupied by service and professional oriented tenants, including traditional office spaces and “virtual” offices. Most of the tenant spaces are small, which significantly reduces re-leasing costs. Some of the building’s amenities include private on-site parking, a large conference room available to all tenants, full-time professional property management and receptionist services during business hours.
“The building’s location and flexible tenancy structure were very attractive to many investors, resulting in multiple offers at full asking price,” stated Ethington.
- NavPoint Real Estate Group announced the sale of the 12,498-square-foot retail building at 33 N Main Street in Brighton. Matt Call and Jason Mayer of NavPoint Real Estate Group represented the seller, Lazy V Slash Land & Cattle Company. Melissa Segal of White Pick-It Fence Realty represented the buyer, CK Holdings, LLC.
- SVN announced the sale of a 15,036-square-foot mixed-retail and residential space, located at 607 22nd Street in Denver, for $5.035 million.
- SVN also announced the sale of a 10,080-square-foot industrial space, located at 2750 W. Mansfield Avenue in Sheridan.
- SVN also announced the sale of a 19,700-square-foot industrial space, located at 1830 S. Bannock Street in Denver, for $1.875 million.
- Legend Investment Group (LIG), a division of Legend Partners, has arranged the purchase of a retail strip center located at 13591 Huron Street in Westminster. An East Coast-based private investor acquired the property from an undisclosed seller for $3.2 million. At the time of sale, the 5,389-square-foot property was fully occupied by Dunkin Donuts, Bank of America and Huron Liquor. LIG and Peter Peluso of Legend Partners represented the buyer in the deal.