Pinnacle Announces the Sale of Hancock Park Office Building
Posted on March 23, 2015
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of Hancock Park Office Building located at 15200 East Girard Avenue in Aurora, Colorado. The 38,970 square foot office building sold for $2,650,000 or $68.00 per square foot. Rob Edwards and Tom Ethington, Senior Advisors, represented the seller in the transaction.
“We were able to achieve a 7.95% cap rate for the local seller due to sizable buyer competition, lack of quality for-sale office investment inventory, and the current low interest rate lending environment. The local buyer plans to partially renovate the property and hold the asset for the long-term.” stated Rob Edwards.