Pinnacle Announces the Sale of Bridgeside Professional Building in Parker
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 11031 South Pikes Peak Drive located in Parker, CO. The 12,324 square foot office building sold for $2,100,000 or $170.40 per square foot. Tom Ethington and Rob Edwards of The Edwards | Ethington Team represented the buyer in the transaction, while Nick Nickerson and Mitch Trevey of Trevey Land and Commercial represented the seller.
Bridgeside Professional Building is fully occupied to several successful tenants, some of which are at below-market rents. Built in 1985, the building has been well maintained and has ample onsite and street parking.
“The local Colorado buyer will enjoy stable cash flow with potential rent upside in the future. The property shows well, and the newer roof adds to the presence of the building,” stated Ethington.
Located at the southern end of Downtown Parker, Bridgeside Professional Building has great northern access from Mainstreet and southern access from Twenty Mile Road and Hilltop Road. The building is adjacent to Parker Flats at Old Town Apartments and Parker Center Shopping Center, and is just minutes from O’Brien Park and a number of other shops and restaurants.
Parker is just 21.5 square miles with a population of over 53,000. The unemployment rate is just 2.3%, and the median household income is over $111,000. Parker is a growing community that is committed to a thriving economy, family-friendly environment and cultural and recreational activities.