Pinnacle Announces the Sale of Three STNL Retail Buildings in Aurora, CO
Justin Krieger, Principal at Pinnacle Real Estate Advisors, LLC, is pleased to announce the sale of three contiguous single tenant net leased retail buildings located at 9103, 9115, & 9131 East Colfax Avenue in Aurora, Colorado. The properties sold for $1,900,000 on March 1, 2019 in an all cash transaction. The buildings, leased to Family Dollar, Tacos y Salsas, and Sunrise Chinese Restaurant, total 13,632 SF and sit on a 1.2 acre lot that spans the entire north side of East Colfax Avenue from Alton Street to Beeler Street. Justin Krieger represented the seller, a Denver-based family partnership that had held the property for approximately 50 years. The buyer, also a Denver-based family partnership, purchased the property in a 1031 exchange.
“This deal represented a unique opportunity to purchase three contiguous buildings providing steady cash flow in the short-term with long-term upside in developing a lot stretching from one corner to another along metro Denver’s major east/west corridor.” said Krieger.