Transactions for Week of 05/15/17
Castle Rock, CO – NavPoint Real Estate Group, a commercial real estate sales, leasing and investment firm in Castle Rock, is pleased to announce the sale of a 5,755 SF building at 807 Wilcox Street in Castle Rock. The seller was Castle Pines Motel, LLC. The buyer was Barnzillare, LLC. Matt Call and Ian Elfner of NavPoint Real Estate Group represented the seller. This deal successfully closed in May 2017. The property is conveniently located just southeast of the Wolfensberger exit off I-25. The asset consists of three buildings Castle Pines Motel which includes 10 furnished guest rooms, The Estate Sale Consignment Store including fixtures and inventory, and two Greenhouses currently being used as part of the consignment store.
NavPoint Real Estate Group is a comprehensive Commercial Real Estate Services Firm that handles a wide variety of investment assignments. The company provides services including Exclusive Brokerage Representation, Property/Asset Management, and Consulting, throughout Colorado and the Western US covering all Commercial Property types. NavPoint brings an experienced team to every assignment that has a broad understanding of the national Commercial Real Estate market while also bringing acute local knowledge to each assignment. The firm is currently involved in the exclusive brokerage or management of over 1,500,000 SF of commercial real estate.
Denver, CO – Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 3201 South Sherman Street in Englewood, Colorado. The 11-unit portfolio sold on May 15th with a contract price of $1,510,000; $137,273 per unit and $189.22 per square foot. The property was constructed in 1960. Josh Newell, Principal, represented the local seller in the transaction.
Castle Rock, CO – Pinnacle also announced the sale of 4991 Factory Shops Boulevard, Castle Rock, CO. The 11,368 square foot retail building is located in the Promenade at Castle Rock, a landmark destination and local gathering spot in Castle Rock, CO. The property sold for $7,000,000 or $615.76 per square foot. Tom Ethington and Robert Edwards, Principals, represented the seller in the transaction.
“Castle Rock is quickly developing into one of Denver’s top suburban economies. There is above average population growth along with excellent demographics fundamentals, which should help retail commercial properties perform as long term stable investments,” stated Ethington.