Pinnacle Announces Sale of a Summit Professional Building
Posted on March 3, 2016
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 735 S Xenon Court located in Lakewood, Colorado. This 12,522 square foot multi-tenant office building sold on February 26th, 2016 for $2,080,000 or $166.11 per square foot. Eric Shaw, Senior Advisor, represented the buyer in the transaction.
“The buyer was looking for a stabilized asset with a strong tenant mix. During the due diligence period we were able to extend the leases of two existing tenants making the deal more attractive for the buyer. This multi-tenant property was 100 percent leased at the time of sale and sold for a 7.96 percent cap rate,” stated Eric Shaw, Senior Advisor at Pinnacle Real Estate Advisors.