Justin Krieger Sells Former Furr’s Family Dining Restaurant Property in Wheat Ridge
Justin Krieger, Senior Advisor at Pinnacle Real Estate Advisors, LLC, is pleased to announce the sale of 4900 Kipling Street in Wheat Ridge, Colorado today. The 11,470 square foot restaurant building sits on a 2.5+ acre lot and sold for $1,802,000. The property was net leased to Furr’s Family Dining, a national buffet restaurant, until Furr’s vacated and filed a Chapter 11 bankruptcy earlier this year. Justin Krieger represented the California seller and procured the local buyer.
“The deal was challenging due to the fact that it quickly went from being a passive net leased investment to a large vacant building. The buyer was attracted to the fact that the property is located at a signalized intersection directly off of the Kipling exit on I-70 and saw redevelopment upside where others saw problems.” said Krieger.