Justin Krieger Announces the Sale of The Shops on Midway in Broomfield
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.