Pinnacle Announces Sale of Storage Facility in Aurora
Quentin Shore, Associate Advisor, Chris Knowlton, Vice President, and Jim Knowlton, Owner/Principal with the Knowlton Lawson Team at Pinnacle Real Estate Advisors, LLC are pleased to share the successful purchase of 1521 Oswego Street in Aurora, CO.
On April 20th, 2023, a storage facility sitting on a .90-acre lot in Aurora, CO was sold for a purchase price of $2,000,000. The property comprised of a total of 180 storage units included an onsite management office and apartment. The lot is zoned as OA-G and is located only two blocks away from the Anshutz Medical Campus. Along with the various redevelopment projects happening in the area, the favorable zoning allows for the option of future redeveloping. In addition to the current income the property is producing, the Buyers plan on continued low vacancy, especially with the 500+ new apartment units in being constructed in the area. The Buyer was able to sell multiple apartment buildings in order to 1031 exchange into this new venture.