Pinnacle Announces Sale of Net Leased Retail Portfolio in Denver
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 986 & 998 Sheridan Boulevard in Denver, Colorado. This portfolio consisted of two net leased properties, Aaron’s & Family Dollar, and was built in 1999. The seller will leaseback Aaron’s after closing. The property sold on July 1, 2016 for $2,046,154 or $134.62/SF & a 6.55% Cap rate. Cody Stambaugh, Matt Ritter, Jeff Johnson and Peter Sengelmann with the Johnson Ritter Team assisted both the Seller and the Buyer in the transaction.
“Our team was pleased to assist both the Buyer and Seller on the sale of 986 & 998 Sheridan Blvd. The out of state Seller will leaseback the Aaron’s property and continue to operate the business. The Buyer plans to hold the property long term,” stated Cody Stambaugh, Advisor, at Pinnacle Real Estate Advisors.