Pinnacle Announces the Sale of a Multi-Tenant Retail Center in Colorado Springs
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of a 26,079 square retail center for $3,920,000 located at 1810-1840 Dominion Way in Colorado Springs, Colorado. Peter Sengelmann, Eric Diesch and Jackson Coon represented the seller in the transaction. The property is situated in the northern market of Colorado Springs and directly off the major thorough fare, N. Academy Blvd. The listing team was able to attract a traditional multifamily investor that was looking into acquiring more cashflow through purchasing a retail asset. It was a challenging task but the team was able to get the asset sold just under asking price in a tight market, “Our clients originally took this asset to market a couple years ago. Through the sale process they found out about a number of obstacles that they needed to overcome before they could sell the asset. Once they had worked through those challenges, they came to us with the assignment. We helped them get under contract and close the asset at 99% of list price,” stated Peter Sengelmann, Senior Advisor at Pinnacle Real Estate Advisors.
Pinnacle is very proud of this transaction, not only because of how this team continues to exceed client’s expectations but this transaction in particular really highlights the team’s relentless effort and problem solving abilities to get deals done.