Pinnacle Announces the Sale of an Office Building in Castle Rock

Rob Edwards and Tom Ethington, Senior Advisors at Pinnacle Real Estate Advisors, LLC, are pleased to announce the sale of Oakwood Park 2 located at 2 Oakwood Park in Castle Rock, Colorado.  The building is 7,239 square feet and has four tenants.

The sale closed on June 24th, 2015 and traded for $1,625,000 or $224 per square foot. Rob Edwards and Tom Ethington represented the seller in the transaction.

“Investor activity in Castle Rock is at an all-time high. The Town’s strong real estate fundamentals and decreasing vacancy rates helped us sell the 100% occupied office building for list price.  The Buyer was originally drawn to invest in Castle Rock because of the high quality of life (4th Best Place to Live in America – Money Magazine) and the high median income (6th highest in the nation – Sentier Research).  This transaction represents our second sale of a 100% occupied office building in Castle Rock in the last month.” stated Edwards.