Pinnacle Announces the Sale of 1550 South Parker Road in Denver, Colorado
Justin Krieger and Adam Gower of Pinnacle Real Estate Advisors, LLC are pleased to announce the sale of the net leased Wallaby’s Liquor Warehouse property at 1550 South Parker Road located in Denver, Colorado. The 14,823 square foot freestanding building sold on October 3rd for $4,344,868 or $293.11 per square foot. Krieger and Gower represented the seller, and JB Hochman and Justin Brockman, also brokers at Pinnacle Real Estate Advisors, represented the buyer.
“We offered the property as a long-term sale/leaseback of a successful liquor store that included income from Verizon cell towers and believed that the best buyer for this asset would be someone coming out of a 1031 exchange on a property with a lot of management responsibilities who was looking to get into a more passive deal. We received a lot of action right off the bat and ultimately selected a 1031 exchange buyer who had just sold an apartment building and wanted something more hands-off,” said Krieger.