Pinnacle Announces the Sale of 10909-11001 E Arapahoe Place
Pinnacle Real Estate Advisors, LLC, is pleased to announce the sale of 10909-11001 E Arapahoe Place, Denver CO 80112. The retail property sold for $4,850,000 $259.09 per square foot. Kevin Calame and Matt Lewallen, Senior Advisors, represented the buyer sides in the transaction. Tom Ethington and Robert Edwards, Senior Advisors, represented the sellers in the transaction.
“The time was right for the Woodbury Corporation to sell this asset as they realized their original development goals for Centennial Corners. With Wal-Mart as the shopping center anchor, the new owners should enjoy continued rent growth creating long term value add appreciation.” Stated Tom Ethington, Senior Advisor at Pinnacle Real Estate Advisors.
“The Buyers took the opportunity of this Sellers market in multifamily and trade into a higher cap rate retail asset with less management.” Stated Kevin Calame, Senior Advisor at Pinnacle Real Estate Advisors.