Pinnacle Announces Sale of 40,859 SF Retail Strip Center in Arvada
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of The Arvada West Town Center, a 40,859 SF retail strip center for $7,200,000, at a 9% cap rate, located at 14455-14715 W 64th Avenue in Arvada, CO. Jeff Johnson and Andrew Monette, represented the Buyer, Courtyard on Vine St, LLC and William Penn Apartments, LLC in the transaction.
“Our clients had built up a significant amount of equity in their central Denver apartment portfolio, resulting in a very low return on their equity. The acquisition of the Arvada West Town Center completed our client’s 1031 Exchange and positioned them for a drastic increase in their cash flow, and returns”, said Jeff Johnson, Co-Founder and Principal at Pinnacle Real Estate Advisors. Andrew Monette, Advisor, at Pinnacle added, “Unlike their previous apartment property, our clients are now able to pass through significant expenses to their tenants, like taxes, insurance, and management, which really made the deal appealing to them.”
For more information on this sale please contact Jeff Johnson or Andrew Monette.