Pinnacle Announces the Sale of 4260 E. Alameda Avenue
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 4260 East Alameda Avenue located in Glendale, CO 80246. The 3,010 square foot retail building sold for $1,900,000 or $631.23 per square foot. Tom Ethington and Robert Edwards, Principals, represented the seller in the transaction.
“This was one of those listings where you hoped the tenant vacated during the deal because their rent was about $20 per square foot below market. However, this Payless ShoeSource successfully navigated their two rounds of store closures. Tom and I exclusively represented the Canadian seller, and Brad Gilpin represented the local Denver buyer. The buyer lives close to the property and looks forward to adding value when the time is right. Finding a Super Target pad sites in Colorado is difficult. Finding one at the main entrance of the third highest grossing Super Targets in the world is near impossible. This was a win-win deal for both buyer and seller,” stated Rob Edwards.