Pinnacle Announces the Sale of Retail/Mixed-Use Property in Denver
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 1600-1608 East Colfax Avenue located in Denver, Colorado. This property consists of two commercial buildings on approximately 11,250 square feet of C-MS-8 zoned land. The properties sold for $3,200,000. Eric Shaw, Senior Advisor, represented the seller, Holleco LLP in the transaction.
“We were able to maximize the price of this redevelopment play because of its C-MS-8 zoning and its excellent location. The properties had been under the ownership of one family for two generations and they finally felt it was the right time to sell due to the current market cycle. The properties are located at the heart of Capitol Hill at the intersection of Colfax Ave., Franklin St., and Park Ave. Pando Holdings LLC was the perfect buyer because they controlled the parking lot adjacent to the property. This will be an incredible redevelopment site for Pando Holdings,” stated Shaw.