Multi-Tenant Mixed-Use Property Sells in Castle Pines
According to NavPoint Real Estate Group, Village Square at Castle Pines, a multi-tenant retail/office investment property located at 361-363 Village Square Lane, and 7437-7439 Village Square Drive in Castle Pines, has sold for $10.275,000.
The asset is located just off Castle Pines Parkway in direct vicinity of The Village at Castle Pines, a gated golf community, as well as multiple planned residential developments including The Canyons. Castle Pines has a population of approximately 10,500 residents. With tenants such as Dukes Restaurant and Saloon, Pino’s Italian Kitchen, Brandon Lynn Orthodontics, PC, and Wellhaven Pethealth CO, LLC, this property has been in high demand and stayed highly occupied on a historical basis.
The buyer, ProTerra Properties, was represented by Landmark Brokerage. The seller, PMT Partners XIV, LLC, was represented by Matt Call of NavPoint Real Estate, John Witt of Quiver Investments, and Ian Elfner of Pinnacle Real Estate Advisors.
“We had a tremendous amount of activity during the marketing period and quickly went under contract with ProTerra after they expressed initial interest. Our team was able to navigate the obstacles associated with Covid pre-contract and during due diligence. Pro Terra was a huge believer in this excellent location on a long-term basis given all the ongoing adjacent development. The varied rent roll and strong demographics along with some problem solving by the transaction team allowed us to close this deal before year end,” commented Matt Call of NavPoint Real Estate Group.
Photo courtesy of Navpoint