Pinnacle Announces Sale of a NNN Retail Asset on Park Meadows Drive
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 7824 Park Meadows Dr located in Lone Tree, Colorado. This 14,803 SF retail property was built in 2003 and is located at Park Meadows Drive and Acres Green Drive. The 100% leased property sold on April 18, 2019 for $4,350,000 or $293.86/SF. Jeff Johnson, and Corey Sandberg with the Johnson Ritter Team, assisted both the Buyer and the Seller in this transaction.
“The buyer recently sold a portfolio of central Denver apartment buildings and was excited to transition into a higher yielding retail property. This turnkey investment gives the buyer a nice opportunity to enjoy the benefits of an investment property with NNN leases in place, as compared to their previous experience with multi-family investments,” stated Jeff Johnson, principal at Pinnacle Real Estate Advisors.