Justin Krieger, Senior Advisor at Pinnacle Real Estate Advisors, LLC, is pleased to announce the sale of the Shops on Midway, a 3,750 SF retail building built in 1975 and renovated in 2015 on 0.6 acres located at 1690-1700 West Midway Boulevard in Broomfield, Colorado. The property sold for $2,100,000 ($560/SF) on July 5, 2016 and was 100% occupied by Little Caesars pizza and Midway Liquors on NNN leases. Justin Krieger represented the seller and Chris Saros of Dunton Commercial represented the buyer, who purchased the property in a 1031 exchange. The property was a former bank building and sold vacant in March of 2015 for $650,000.

“This was a win-win deal for both parties. My client capitalized on an outstanding opportunity when he bought a vacant building that others passed on and renovated it and leased it up and made an impressive profit in a little over a year, and the buyer achieved his goal of buying a stabilized and well-located deal.” said Justin Krieger at Pinnacle Real Estate Advisors.