Pinnacle Announces the Sale of 1200-1230 W. 38th Avenue, Denver, CO 80211
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of the Highlands Retail Center at 1200-1230 West 38th Avenue located in Denver, CO. This 10,844 square foot two-building retail neighborhood center sold for $5,216,000 or $481 per square foot. The property’s five service and restaurant tenants cater to the growing neighborhood’s demands. The tenants include Denver Deep Dish, Lash Boulevard, Fierce45, Abundant Smiles Dentistry, and CycleBar. Rob Edwards and Tom Ethington, Principals, represented the local seller, LCP Development in the transaction. Jules Hochman and Justin Brockman, Principals, represented the local 1031 exchange multifamily buyer, Ingalls RE 2, LLC in the transaction.
“Last year LCP Development was one of the first developers to jump into this highly trafficked section of 38th Avenue in the booming Highlands Neighborhood. It didn’t take long for many other developers to follow suit. Within just one block of Lipan Street, Chubby’s razed and re-built their popular Mexican restaurant and five new homes were under construction,” stated Edwards.
About LCP Development: Founded in 2004, LCP Development is a privately-held, Denver-based development and property management company specializing in mixed-use, infill development and redevelopment and property management. LCP has experience in nearly every real estate asset type, with projects in metro Denver and surrounding areas.