Pinnacle Announces Sale of Shepherds Motel
Barton Thompson, Vice President and James Few, Associate Advisor, with the Thompson Group at Pinnacle Real Estate Advisors, LLC are pleased to announce the sale of The Shepherds Motel, located at 1525 Valentia Street in Denver, Colorado. The 34-unit motel was built in 1963 and has been family-owned and operated since 1994. The 13,953 SF property sold on June 14th, 2023 with a contract price of $3,000,000; $88,235 per unit and $215 per square foot. Barton Thompson and James Few represented the Seller and Buyer in the transaction.
“This transaction started as an opportunity for the Thompson Group to facilitate a conversation between family members that ultimately led to the decision to sell an asset that had been in the family for two decades.” said James Few, Associate Advisors at Pinnacle Real Estate Advisors, LLC. “Once the decision to sell had been reached, we were able to find a local buyer and deliver a full-price offer in a challenging interest rate environment, creating a win-win for all involved.”