Pinnacle Announces Sale of Medical Office Property in Littleton
Posted on January 4, 2018
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 7325 South Pierce Street in Littleton, Colorado. This medical office property was built in 1984 and has undergone numerous capital improvements in the last year. The property has a strong suburban location just north of C-470 and east of Wadsworth Boulevard. The property sold on December 26, 2017 for $2,328,000 ($177.34/SF) at a 7.82% Cap Rate. Jeff Johnson, Co-Founder and Principal with the Johnson Ritter Team, represented the seller in the transaction.
“After completing extensive renovations to the property and stabilizing the tenant base, the seller was able to offer the buyer a true turn-key investment property,” stated Johnson.