Pinnacle Announces Sale of Multi-Tenant Retail & Office Property in Parker

Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of Parker Station, a 74,607 SF multi-tenant retail & office property built in 2001 for $18,500,000, at a 7% cap rate, located in Historic Downtown Parker on Mainstreet at 19751 E Mainstreet, Parker CO 80138. Jeff Johnson and Andrew Monette, represented the Buyer, in the transaction.

“Our clients had built up a significant amount of equity in a 70’s vintage apartment building in Cheyenne, WY, resulting in a very low return on their equity.  The 1031-Exchange into the acquisition of Parker Station delivered a radical increase in their cash flow, and overall returns, along with obtaining a long-term trophy asset with pride of ownership”, said Jeff Johnson, Co-Founder and Principal at Pinnacle Real Estate Advisors. Andrew Monette, Advisor, at Pinnacle added, “In contrast to their previous apartment property, our clients are now able to operate a high-profile commercial asset under a full-time management company and pass through significant expenses to their tenants, like taxes, insurance, and management, which really made the deal appealing to them.”