Pinnacle Announces The Sale of 124,500 Square Foot Industrial Building in Denver
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale 5120 Race Court located in Denver, Colorado. This 124,500 square foot cooler freezer building sold on July 1st, 2016 for $12,500,000 or $100.40 per square foot. Mark Goodman, Senior Advisor with Pinnacle Real Estate Advisors, represented the buyer in the transaction. Prior to the sale, Colorado Premium Foods, LLC did a 10 year lease extension on the property.
“Colorado Premium is growing rapidly and with their new lease at 5140 Race Court, it made logical sense for them to purchase the adjacent property at 5120 Race Court to ensure continued utilization of the entire 124,500 square feet at a long term pre-determined lease rate,” stated Mark Goodman, Senior Advisor, at Pinnacle Real Estate Advisors.