Pinnacle Announces the Sale of 556 Village Square Lane in Castle Rock
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 556 Village Square Lane located in Castle Rock, CO. The 6,000 square foot building sold for $1,915,000 or $319 per square foot. The property is located in the 9th wealthiest county in the U.S. with an average household income of $177,378 within a 3-mile radius. Rob Edwards and Tom Ethington, Principals, represented the seller, GEC Real Estate of Denver, LLC in the transaction. Kevin Calame and Matt Lewallen, Principals, represented the buyer, 556 Village Square, LLC in the transaction.
“The owner built this property in 2008. After years of adding value and successfully self-managing the property, the seller decided to dispose his last remaining property in Colorado and focus his time and energy on his other real estate opportunities closer to home,” stated Ethington.
“The buyer saw a wonderful opportunity to trade out of his multifamily building in Central Denver into this Castle Rock retail center, with a much higher return,” added Calame.