Pinnacle Announces the Sale of 33,970 SF Industrial Property in Frederick
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 4250 Salazar Way, in Frederick, CO. The 33,970 square foot industrial property, built in 2019, sold on October 31st for a Contract Price of $11,100,000; $326.76 per square foot. Located on a 6.9 acre lot, with easy access to I-25, the fully occupied property featured a new building in excellent condition with a wide range of tenants, all with annual increases built into their leases. Mark Alley, Associate Advisor, represented the Seller, and Jim Knowlton, Owner/Principal, represented the Buyer in the transaction.
“This transaction really represents the continuation of what we have been seeing the last few years; that a well-located industrial property is still the ‘darling’ asset class. Newer construction, a few credit tenants, and 4 acres of excess outdoor storage all contributed to the demand we had for this property. We were lucky to have one of Pinnacle’s owners (my colleague) Jim Knowlton bring the perfect 1031 buyer to the project. They were able to structure a long term lease back with S.N.S Iron Works, the developer/seller, and should be great partners for my Sellers for many years to come,” said Mark Alley.