Pinnacle Announces the Sale of Redevelopment Land in Denver
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 4400 East Bails Place and 4401 E Jewell Avenue located in Denver, Colorado. The site is 30,000 square feet and has a proposed development that has been approved. The property sold on July 15th for $500,000 or $16.67 per square foot. Billy Riesing, Kevin Calame and Matt Lewallen represented the seller, Virginia Village Townhomes LLC in the transaction.
“The Bails-Jewell sale is a reflection of Denver Metro’s strong redevelopment land market. And specifically shows that land is trading outside of Denver Proper’s thriving infill market. The Buyer recognized the high upside to the site being close to the Light Rail at I-25 and Evans, and the demand for townhouse product in this South Denver neighborhood,” stated Billy Riesing, Advisor.