Pinnacle Announces the Sale of 9900 W Colfax Avenue in Lakewood

Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 9900 West Colfax Avenue in Lakewood, CO. The 2,739 square foot used car dealership sold for $775,000 or $282.95 per square foot. Rob Edwards and Tom Ethington, Principals, acted as transaction broker for the buyer and seller in the transaction.

“This deal started a couple years ago when we helped a local Denver investment group purchase a retail center on the SE corner of East Colfax Avenue and North Kipling Street.  The buyer’s long term goal was to cash flow the retail center, leased to Starbucks Coffee, Cricket Wireless, and Kolache Factory, and expand their land footprint to the east,” stated Edwards. “After many cold calls and meetings, we were able to help accomplish their expansion goal by brokering their purchase of the single tenant net leased CarHop Used Car Dealership to the east.  It turned out to be a great deal for the seller too.  The out of state seller achieved a record sales price and, with our help, is in the process of increasing his cash flow via a 1031 exchange.”