Pinnacle Announces the Sale of Castle Rock Crossing
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of Castle Rock Crossing, 78 East Allen Street in Castle Rock, Colorado. The 7,234 square foot retail strip center sold for $2,713,251 or $375.07 per square foot. Rob Edwards and Tom Ethington, Principals, represented the Woodbury/Amsource Group, L.L.C. in the transaction, a seller located in Salt Lake City, Utah. Kevin Calame and Matt Lewallen, Principals, represented Gaslight Properties, LLC, a buyer located in Evergreen, Colorado.
“The seller built the retail center in 2006 and has done a great job with the tenant mix, but they decided it was time to focus on their core portfolio,” stated Ethington. “We were excited to help them take advantage of the Castle Rock investment market.”
“The buyer saw a great opportunity to trade out of his central Denver multifamily into higher return, lower management NNN retail in Castle Rock,” stated Calame.