Pinnacle Announces Sale of 138k+ Office Building Sale in Centennial
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of Highland Place I, 8085 S Chester St, Centennial, CO 80112. The pristine 138,771 rentable square foot office property sold on Wednesday, February 16th for a contract price of $22,200,000. Corey Sandberg and Mike Krebsbach, Vice Presidents at Pinnacle Real Estate Advisors, represented the Buyer in the transaction.
“Our client was able to successfully satisfy their 1031 Exchange requirement by trading out of a multiple property office portfolio and consolidating into a single office asset with fewer tenants. Additionally, the property projects significantly higher cash flow than the relinquished portfolio, upon stabilization. We were pleased our client was able to utilize the many resources of our team to accomplish a transaction that seemed impossible from the start and encountered difficult roadblocks on the way to its ultimate success,” stated Sandberg.
For more information on this sale please contact Corey Sandberg or Mike Krebsbach.